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
|
|
60.3
|
|
|
63.7
|
|
|
65.2
|
|
|
Expenses
|
|
25.4
|
|
|
27.2
|
|
|
28.1
|
|
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.