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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 | % | | 104.3 | % | 103.1 | % | 100.0 | % |
| Cost of goods sold | 63.5 | | 61.3 | | 58.0 | | | 114.2 | | 109.0 | | 100.0 | |
| Operating expenses | 14.3 | | 13.8 | | 14.1 | | | 105.8 | | 100.9 | | 100.0 | |
| |
Determine the net income for the following years.
| | |
| | | | 2017 | 2016 | 2015 | | Sales | | | $100,000 | | Cost of Goods Sold | | | 58,000 | | Operating Expenses | | | 14,100 | | Net Income | | | $27,900 | |
Did the net income increase, decrease, or remain unchanged in this three-year period?
- Remained unchanged
- Net income increased
- Net income decreased
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