Vertical analysis (common-size) percentages for vallejo company’s sales, cost of goods sold, and expenses are listed here.
vertical analysis
2012 2011 2010
sales 100% 100% 100%
cost of goods sold 61.2 63.2 65.9
expenses 24.0 26.0 28.6
did vallejo’s net income as a percent of sales increase, decrease, or remain unchanged over the 3-year period? provide numerical support for your answer.