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Brief Exercise 13-8
Vertical analysis (common-size) percentages for Sheridan Company's sales revenue, cost of goods sold, and expenses are listed here.
Vertical Analysis
2017
2016
2015
Sales revenue
100%
Cost of goods sold
61.4
64.9
65.7
Expenses
24.3
27.0
29.6
Calculate Sheridan's net income as a percent of sales.
Did Sheridan's net income as a percent of sales increase, decrease, or remain unchanged over the 3-year period?
Horizontal analysis (trend analysis) percentages for Phoenix Company's sales revenue, cost of goods sold, and expenses are listed here.
Horizontal Analysis
96.2%
104.8%
100.0%
101.0
98.0
100.0
105.6
95.4
Explain whether Phoenix's net income increased, decreased, or remained unchanged over the 3-year period.
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