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View Policies Current Attempt in Progress The following items were taken from the financial statements of Larkspur, Inc., over a four-year period: Item 2021 2020 2019 2018 Net Sales $910,000 $650,000 $595,000 $500,000 Cost of Goods Sold 580,000 468,000 424,000 400,000 Gross Profit $330,000 $182,000 $171,000 $100,000 Using horizontal analysis and 2018 as the base year, compute the trend percentages for net sales, cost of goods sold, and gross profit. Indicate whether the trends are favorable or unfavorable for each item. Item 2021 2020 2019 2 Net Sales % % % Cost of Goods Sold % % % Gross Profit % % % e Textbook and Media Save for Later Attempts: 0 of 1 used Submit