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Common-size and trend percentages for a companys net sales, cost of goods sold, and expenses follow: Common-Size Percentages Trend Percentages 2023 2022 2021 2023 2022
Common-size and trend percentages for a companys net sales, cost of goods sold, and expenses follow: Common-Size Percentages Trend Percentages 2023 2022 2021 2023 2022 2021 Net sales 100.0 % 100.0 % 100.0 % 107.8 % 106.6 % 100.0 % Cost of goods sold 74.9 71.7 67.8 116.6 111.7 100.0 Expenses 14.6 12.5 12.9 108.8 103.9 100.0 Required: a. Calculate the profit percentage for 2021, 2022 and 2023. (Round the final answers to 2 decimal places.)
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