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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 2017 2016 2015 2017 2016
Common-size and trend percentages for a companys net sales, cost of goods sold, and expenses follow:
Common-Size Percentages | Trend Percentages | |||||||||||
2017 | 2016 | 2015 | 2017 | 2016 | 2015 | |||||||
Net sales | 100.0 | % | 100.0 | % | 100.0 | % | 108.1 | % | 106.5 | % | 100.0 | % |
Cost of goods sold | 57.9 | 54.8 | 51.6 | 115.9 | 112.0 | 100.0 | ||||||
Expenses | 24.1 | 21.9 | 22.4 | 111.9 | 104.8 | 100.0 | ||||||
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Required: a. Calculate the profit percentage for 2015, 2016 and 2017. (Round the final answers to 2 decimal places.)
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b. Determine whether the companys profit increased, decreased, or remained unchanged during this three-year period.
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