Horizontal analysis (trend analysis) percentages for Spartan Company’s sales, cost of goods sold, and expenses are listed here.

Horizontal Analysis
2012
2011
2010
Sales 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 Spartan’s net income increased, decreased, or remained unchanged over the 3-year period.

Question

Horizontal analysis (trend analysis) percentages for Spartan Company’s sales, cost of goods sold, and expenses are listed here.

Horizontal Analysis
2012
2011
2010
Sales		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 Spartan’s net income increased, decreased, or remained unchanged over the 3-year period.