Vertical analysis (common-size) percentages for Palau Companys sales revenue, cost of goods sold, and expenses are as follows.

Vertical Analysis		2020		2019		2018
Sales revenue		100.0	%	100.0	%	100.0	%
Cost of goods sold		57.4		61.1		65.2
Expenses		21.5		24.7		26.5

Calculate the net income as a percent of sales for each year. (Round answers to 1 decimal place, e.g. 12.5%.)

		2020		2019		2018
Net income		%		%		%

Did Palaus net income as a percent of sales increase, decrease, or remain unchanged over the 3-year period? IncreasedDecreasedRemain Unchanged