I need the answer to this

profilephilie1
vertical_analysis_13-8.docx

Vertical analysis (common-size) percentages for Vallejo Company’s sales, cost of goods sold, and expenses are listed here.

Vertical Analysis

2012

2011

2010

Sales

100

%

100

%

100

%

Cost of goods sold

60.3

63.7

65.2

Expenses

25.4

 

27.2

 

28.1

 

Did Vallejo’s net income as a percent of sales increase, decrease, or remain unchanged over the 3-year period? Provide numerical support for your answer.