Selected vertical percentages of the base amount from Waubon Corp.'s vertically analyzed income statement are shown below.

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Based on the above vertical percentages, did Waubon's profit as a percentage of sales increase, decrease, or remain unchanged over the three-year period? Explain.

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Accounting Principles Part 3

ISBN: 978-1118306802

6th Canadian edition Volume 1

Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Kinnear, Joan E. Barlow

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Question Posted: Mar 31, 2017 01:14 AM

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Selected vertical percentages of the base amount from Waubon Corp.'s vertically analyzed income statement are shown below.

Question:

Net sales Cost of goods sold Operating expenses Income tax expense 2012 100.0% 59.4% 19.6% 4.2% 2011 100.0% 60.5% 20.4% 3.8% 2010 100.0% 60.0% 20.0% 4.0%

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Accounting Principles Part 3

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