Vertical analysis (common size) percentages for Kochheim Company's sales, cost of goods sold, and expenses are shown below.
| Vertical Analysis |
2015 |
2014 |
2013 |
| Sales |
100.0 |
100.0 |
100.0 |
| Cost of goods sold |
46.6 |
51.3 |
53.7 |
| Expenses |
20.1 |
19.2 |
21.5 |
(a) Calculate net income.
| 2015 |
2014 |
2013 |
| Net income |
167 |
170 |
175 |
(b) Did Kochheim's net income as a percent of sales increase, decrease, or remain unchanged over the 3-year period?