Vertical analysis (common size) percentages for Waubons Company’s sales, cost of goods sold, and expenses are listed here.
|
Vertical Analysis |
2010 |
2009 |
2008 |
|
Sales |
100.0% |
100.0% |
100.0% |
|
Cost of goods sold |
60.5 |
62.4 |
64.5 |
|
Expenses |
26.0 |
26.6 |
28.5 |
Did Waubons’s net income as a percent of sales increase, decrease, or remain unchanged over the 3 year period? Provide numerical support for your answer.