The following items were taken from the financial statements of Crane Manufacturing, Inc., over a three-year period: Item 2022 2021 2020 Net Sales $224,400 $214,200 $204,000 Cost of Goods Sold 148,590 137,160 127,000 Gross Profit $75,810 $77,040 $77,000 Using horizontal analysis and 2020 as the base year, compute the trend percentages for net sales, cost of goods sold, and gross profit. Indicate whether the trends are favorable or unfavorable for each item. Item Net Sales Cost of Goods Sold Gross Profit 2022 % % 2021 % % 2020 % % % % %