Question: 1. If Coho Company had net income of $382,800 in 2017 and it experienced a 16% increase in net income over 2016, what was its 2016 net income?
2. Vertical analysis (common-size) percentages for Palau Company's sales revenue, cost of goods sold, and expenses are listed here
Did Palau's net income as a percent of sales increase, decrease, or remain unchanged over the 3-year period? Provide numerical support for your answer.