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 |
|
61.2
|
|
|
63.2
|
|
|
65.9
|
|
Expenses |
|
24.0
|
|
|
26.0
|
|
|
28.6
|
|
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.