The following items were taken from the financial statements of St. Johns, Inc., over a four-year period: Item 2018 2017 2016 2015 Net Sales $655,000 $640,000 $575,000 $500,000 Cost of Goods Sold 520,000 480,000 435,000 400,000 Gross Profit $135,000 $160,000 $140,000 $100,000 Explain whether the trends are favorable or unfavorable for each item. Answer: Item Net Sales Cost of Goods Sold Gross Profit 2018 2017 2016 2015 655,000/500,000= 640,000/500,000= 575,000/500,000= 100% 131% 128% 115% 520,000/400,000= 480,000/400,000= 435,000/400,000= 100% 130% 12096 109% 135,000/100,000= 160,000/100,000= 140,000/100,000= 100% 135% 160% 14096