Percent of sales increase-decrease

Reference no: EM13764097

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.

Reference no: EM13764097

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