Brief Exercise 23-22 x Your answer is incorrect. Try again. The income statements of Sandhill Corporation show the following amounts: 2020 2019 2018 Net sales $790 $760 $710 Cost of goods sold 570 535 473 Gross profit 220 225 237 Selling, general, and administrative expenses 200 116 Profit before tax 20 67 121 Using vertical (common-size) analysis, analyze Sandhill Corporation's declining profit before tax. (Round answers to decimal places, e.g. 52%.) 2020 2019 2018 158 Net sales 3950 % 0% Cost of goods sold % % Gross profit % % Selling, general, and administrative expenses J% % % Profit before tax 100 J% 100 J% 100 %