Explain whether Spartans net income increased, decreased, or remained unchanged over the 3-year period.

Vertical analysis (common-size) percentages for Vallejo Company’s sales, cost of goods sold, and expenses are listed here.

Vertical Analysis 2012 2011 2010

Sales 100 % 100 % 100 % Cost of goods sold 60.1 64.3 66.5 Expenses 25.3

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27.3

29.3

Did Vallejo’s net income as a percent of sales increase, decrease, or remain unchanged over the 3-year period? Provide numerical support for your answer.

Questions # 2

Horizontal analysis (trend analysis) percentages for Spartan Company’s sales, cost of goods sold, and expenses are listed here.

Horizontal Analysis 2012 2011 2010 Sales 96.2 % 104.8 % 100.0 % Cost of goods sold 101.0 98.0 100.0 Expenses 105.6 95.4 100.0

Vertical analysis (common-size) percentages for Vallejo Company’s sales, cost of goods sold, and expenses are listed here.

Vertical Analysis 2012 2011 2010

Sales 100 % 100 % 100 % Cost of goods sold 60.1 64.3 66.5 Expenses 25.3

27.3

29.3

Did Vallejo’s net income as a percent of sales increase, decrease, or remain unchanged over the 3-year period? Provide numerical support for your answer.

Questions # 2

Horizontal analysis (trend analysis) percentages for Spartan Company’s sales, cost of goods sold, and expenses are listed here.

Horizontal Analysis 2012 2011 2010 Sales 96.2 % 104.8 % 100.0 % Cost of goods sold 101.0 98.0 100.0 Expenses 105.6 95.4 100.0

Explain whether Spartan’s net income increased, decreased, or remained unchanged over the 3-year period.

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