Reference no: EM132770328

Artie LLC had the following income statement data for the past 3 years.

   2020                                  2019                                               2018

Net Sales 300,000         Net Sales 260,000               Net Sales 250,000

Cost of Goods Sold 95,000  Cost of Goods Sold 78,000   Cost of Goods Sold 80,000

Gross Profit 205,000            Gross Profit 182,000            Gross Profit 170,000

Operating Expenses 55,000   Operating Expenses 60,000      Operating Expenses 50,000

Net income 150,000               net Income 122,000                      Net Income 120,000

Problem 1: Perform horizontal analysis, using 2018 as the base year. (Round your answers to 2 decimal places.)