Common-size and trend percentages for a company's net sales, cost of goods sold, and expenses follow:

Common-Size Percentages Trend Percentages

2020 2019 2018 2020 2019 2018

Net sales 100.0% 100.0% 100.0% 108.8% 107.1% 100.0%

Cost of goods sold 64.8 61.7 58.4 115.6 110.3 100.0

Expenses 13.5 11.9 13.0 109.7 103.7 100.0

Required: a. Calculate the profit percentage for 2018, 2019 and 2020. (Round the final answers to 2 decimal places.)

Profit Percentage

2018 %

2019 %

2020 %