The following items were taken from the financial statements of Smalley, Inc., over a five-year period: Item Net Sales 2014 $980,000 2013 $900,000 2012 $650,000 2011 $550,000 2010 $500,000 Cost of Goods Sold Gross Profit 700,000 $280,000 640,000 $260,000 480,000 420,000 400,000 $170.000 $130.000 $100.000 Instructions Using horizontal analysis and 2010 as the base year, calculate the trend percentages for net sales, cost of goods sold, and gross profit. Explain whether the trends are favourable or unfavourable for each item. Make sure you answer is in a chart...ask if you need help to create one! Paragraph BI UA + ...