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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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