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ommon-size and trend percentages for a companys net sales, cost of goods sold, and expenses follow: Common-Size Percentages Trend Percentages 2023 2022 2021 2023 2022
ommon-size and trend percentages for a companys 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 | % | 108.1 | % | 106.5 | % | 100.0 | % | ||||||
Cost of goods sold | 60.9 | 59.2 | 55.4 | 116.2 | 112.2 | 100.0 | ||||||||||||
Expenses | 35.3 | 31.9 | 33.5 | 112.1 | 105.0 | 100.0 | ||||||||||||
Required: a. Calculate the profit percentage for 2021, 2022 and 2023. (Round the final answers to 2 decimal places.)
b. Determine whether the companys profit increased, decreased, or remained unchanged during this three-year period.
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