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The income statements of Blossom Corporation show the following amounts: 2020 2019 2018 Net sales $700 $670 $620 Cost of goods sold 490 461 407
The income statements of Blossom Corporation show the following amounts: 2020 2019 2018 Net sales $700 $670 $620 Cost of goods sold 490 461 407 Gross profit 210 209 213 Selling, general, and administrative expenses 170 136 100 Profit before tax 40 73 113 Using vertical (common-size) analysis, analyze Blossom Corporation's declining profit before tax. (Round answers to O decimal places, eg. 52%.) 2020 2019 2018 Net sales 100 % 100 % 100 % Cost of goods sold % % % Gross profit % % % Selling, general, and administrative expenses % % % Profit before tax % % %
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