Toledo Toy, a manufacturer of infants' blocks, presented the following data in its last annual report. This trend analysis begins with the year of formation, 2009.

	2012	2011	2010	2009
Sales	$61,000	$41,000	$25,000	$13,000
Cost of Sales	$41,300	$28,175	$17,201	$ 9,000
Net Income	$ 9,919	$ 6,412	$ 3,850	$ 2,000
Cases of Blocks Shipped	33,126	22,681	13,900	7,400

Required:

a.	Using 2009 as the base year, perform a horizontal, common-size analysis.
b.	Comment on the results of the horizontal analysis.