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PLEASE HELP ME SOLVE THIS ACCOUNTING PROBLEM AND PLEASE SHOW ME HOW TO GET THE ANSWER PLEASE HELP ME Brief Exercise 18-8 Vertical analysis (common

PLEASE HELP ME SOLVE THIS ACCOUNTING PROBLEM AND PLEASE SHOW ME HOW TO GET THE ANSWER PLEASE HELP ME

Brief Exercise 18-8

Vertical analysis (common size) percentages for Kochheim Companys sales, cost of goods sold, and expenses are shown below.

Vertical Analysis

2015

2014

2013

Sales

100.0

100.0

100.0

Cost of goods sold

49.6

53.0

55.4

Expenses

18.0

18.3

20.7

(a) Calculate net income.

2015

2014

2013

Net income

(b) Did Kochheims net income as a percent of sales increase, decrease, or remain unchanged over the 3-year period?

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