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Vertical analysis (common-size) percentages for Palau Company's sales revenue, cost of goods sold, and expenses are as follows. 2020 2019 2018 Vertical Analysis Sales revenue

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Vertical analysis (common-size) percentages for Palau Company's sales revenue, cost of goods sold, and expenses are as follows. 2020 2019 2018 Vertical Analysis Sales revenue Cost of goods sold Expenses 100.0 % 57.5 100.0 % 61.3 100.0 % 64.1 21.4 23.5 26.0 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 Palau's net income as a percent of sales increase, decrease, or remain unchanged over the 3-year period

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