Prepare a trend (horizontal) analysis for 2018 through to 2020 for the income stateme 2018 as the base year. Indicate whether the trend in cost of goods sold, operating expenses and profit compared with net sales is favorable or unfavorable and why. Tiger Woods Ltd. Income Statement For Years Ended December 31 Net sales Cost of goods sold Gross profit Operating expenses Interest expense Income taxes Profit 2020 $651,000 2019 2018 $589,000 $512,500 412,688 365,488 277,900 238,312 223,512 234,600 170,430 154,980 132,650 14,269 13,260 12,650 13,970 12,650 10,629 $39,643 $42,622 $ 78,671