Common-size and trend percentages for a company's net sales, cost of goods sold, and expenses follow:...

Transcribed Image Text:

Common-size and trend percentages for a company's net sales, cost of goods sold, and expenses follow: Common-Size Percentages Trend Percentages Net sales 2023 100.0% 2022 2021 2023 100.0% 100.0% Cost of goods sold Expenses 68.5 65.3 62.5 21.2 17.5 19.5 108.2% 114.4 112.6 2022 106.8% 110.4 105.3 2021 100.0% 100.0 100.0 Required: a. Calculate the profit percentage for 2021, 2022 and 2023. (Round the final answers to 2 decimal places.) Profit Percentage 2021 % 2022 % 2023 % b. Determine whether the company's profit increased, decreased, or remained unchanged during this three-year period. Profit Common-size and trend percentages for a company's net sales, cost of goods sold, and expenses follow: Common-Size Percentages Trend Percentages Net sales 2023 100.0% 2022 2021 2023 100.0% 100.0% Cost of goods sold Expenses 68.5 65.3 62.5 21.2 17.5 19.5 108.2% 114.4 112.6 2022 106.8% 110.4 105.3 2021 100.0% 100.0 100.0 Required: a. Calculate the profit percentage for 2021, 2022 and 2023. (Round the final answers to 2 decimal places.) Profit Percentage 2021 % 2022 % 2023 % b. Determine whether the company's profit increased, decreased, or remained unchanged during this three-year period. Profit