Explain whether net income increased-decreased

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Reference no: EM131216760

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Question:

Horizontal analysis (trend analysis) percentages for Phoenix Company's sales revenue, cost of goods sold, and expenses are listed here.

Horizontal Analysis 2017 2016 2015

Sales revenue 96.2 % 104.8 % 100.0 %

Cost of goods sold 101.0 98.0 100.0

Expenses 105.6 5.4 100.0

Explain whether Phoenix's net income increased, decreased, or remained unchanged over the 3-year period.( show solution of with your original point of view by answering and matching it with brief explanation)

Reference no: EM131216760

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