Horizontal analysis (trend analysis) percentages for Phoenix Companys sales revenue, cost of goods sold, and expenses are listed here.

Horizontal Analysis		2020			2019			2018
Sales revenue		94.6	%		106.7	%		100.0	%
Cost of goods sold		104.8			94.7			100.0
Expenses		106.3			94.4			100.0

Did Phoenixs net income increase, decrease, or remain unchanged over the 3-year period?

2020		select an option IncreasedDecreasedRemained Unchanged
2018		select an option IncreasedDecreasedRemained Unchanged