Vertical analysis (common-size) percentages for Pharoah Company's net sales, cost of goods sold, and expenses are...

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Vertical analysis (common-size) percentages for Pharoah Company's net sales, cost of goods sold, and expenses are listed here. Vertical Analysis 2022 2021 2020 Net sales 100.0 % 100.0 % 100.0 % Cost of goods sold Expenses 50.7 54.3 59.0 19.2 25.8 26.2 Calculate the net income as a percent of net sales for each year. (Round answers to 1 decimal place, eg. 12.5%) Net income 2022 % 2021 % 2020 % Did Pharoah's ret income as a percent of net sales increase, decrease, or remain unchanged over the 3-year period? Vertical analysis (common-size) percentages for Pharoah Company's net sales, cost of goods sold, and expenses are listed here. Vertical Analysis 2022 2021 2020 Net sales 100.0 % 100.0 % 100.0 % Cost of goods sold Expenses 50.7 54.3 59.0 19.2 25.8 26.2 Calculate the net income as a percent of net sales for each year. (Round answers to 1 decimal place, eg. 12.5%) Net income 2022 % 2021 % 2020 % Did Pharoah's ret income as a percent of net sales increase, decrease, or remain unchanged over the 3-year period?