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Common-size and trend percentages for a company's net sales, cost of goods sold, and expenses follow. Common-Size Percentages Trend Percentages 2023 2022 2021 2023
Common-size and trend percentages for a company's 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% Cost of goods sold Expenses 75.2 71.8 68.3 108.8% 117.0 107.1% 100.0% 112.2 100.0 13.5 10.9 13.0 110.7 104.5 100.0 Required: a. Calculate the profit percentage for 2021, 2022 and 2023. (Round the final answers to 2 decimal places.) Profit Percentage 2021 % 2022 % 2023 % b. Determine whether the company's profit increased, decreased, or remained unchanged during this three-year period. Profit
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