Net Income Assignment
February 18th, 2020
Common-size and trend percents for Rustynail Company's sales, cost of goods sold, and expenses follow.
| Common-Size Percents | Trend Percents | ||||||||||||
| 2017 | 2016 | 2015 | 2017 | 2016 | 2015 | ||||||||
| Sales | 100.0 | % | 100.0 | % | 100.0 | % | 105.4 | % | 104.2 | % | 100.0 | % | |
| Cost of goods sold | 63.4 | 61.9 | 59.1 | 113.1 | 109.1 | 100.0 | |||||||
| Operating expenses | 15.3 | 14.8 | 15.1 | 106.8 | 102.1 | 100.0 | |||||||
Determine the net income for the following years. (Enter all amounts as positive values.)
Did the net income increase, decrease, or remain unchanged in this three-year period?
- Remained unchanged
- Net income increased.
