Vertical analysis (common size) percentages for Osborne Hot Dogs' sales, cost of goods sold, and expenses are as follows:
|
Vertical Analysis
|
2007
|
2006
|
2005
|
|
Sales
|
100.0
|
100.0
|
100.0
|
|
Cost of goods sold
|
59.2
|
62.4
|
64.5
|
|
Expenses
|
25.0
|
26.6
|
27.5
|
Did Osborne's net income as a percent of sales increase, decrease, or remain unchanged over the three-year period? Provide numerical support for your answer.