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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

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 58.0 60.0 64.2 Expenses 21.9 25.0 25.8 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?

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