Question Content Area The following items were taken from the financial statements of Ritz Inc. over a four-year period: Item Year 4 Year 3 Year 2 Year 1 Net sales $800,000 $520,000 $540,000 $550,000 Cost of goods sold 375,000 490,000 500,000 400,000 Gross margin $425,000 $30,000 $40,000 $150,000 Note: Round final answers to the nearest whole number. Required: Using horizontal analysis and Year 1 as the base year, compute the trend percentages for net sales, cost of goods sold, and gross profit.