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Vertical analysis (common-size) percentages for Sunland Company's net sales, cost of goods sold, and expenses are listed here. 2022 2021 2020 100.0 % 100.0 %

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Vertical analysis (common-size) percentages for Sunland Company's net sales, cost of goods sold, and expenses are listed here. 2022 2021 2020 100.0 % 100.0 % 100.0 % Vertical Analysis Net sales Cost of goods sold Expenses 56.0 61.4 63.8 22.2 24.6 25.8 Calculate the net income as a percent of sales for each year. (Round answers to 1 decimal place, e.g. 12.5%.) 2022 2021 2020 Net income % 96 % Did Sunland's net income as a percent of net sales increase, decrease or remain unchanged over the 3-year period

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