Vertical analysis (common-size) percentages for Cullumber Company’s sales revenue, cost of goods sold, and expenses are listed here.
Vertical Analysis
2017
2016
2015
Sales revenue
100
%
100
%
100
%
Cost of goods sold
60.0
64.2
65.6
Expenses
24.7
27.1
29.5
Calculate Cullumber’s net income as a percent of sales. (Round answers to 1 decimal place, e.g. 5.2.)
Net income
for 2017_________2016____________2015_________________
Did Cullumber’s net income as a percent of sales increase, decrease, or remain unchanged over the 3-year period?_____________
Cullumber’s net income as a percent of sales
decreased/increased/remained unchanged?
Horizontal analysis (trend analysis) percentages for Phoenix Company’s sales revenue, cost of goods sold, and expenses are listed here.
Horizontal Analysis
2017
2016
2015
Sales revenue
96.2
%
104.8
%
100.0
%
Cost of goods sold
101.0
98.0
100.0
Expenses
105.6
95.4
100.0
Explain whether Phoenix’s net income increased, decreased, or remained unchanged over the 3-year period (essay).
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