Horizontal analysis (trend analysis) percentages for Phoenix Company's sales revenue, cost of goods sold, and expenses are listed here. Horizontal Analysis 2020 2019 2018 Sales revenue 943 110.0 % 100.0 % Cost of goods sold 1038 94.1 100.0 Expenses 107.3 94.4 100.0 Did Phoenix's net income increase, decrease or remain unchanged over the 3-year period? 2018 to 2019 2019 to 2020