Horizontal analysis | Accounting homework help

The following items were taken from the financial statements of Kramer Manufacturing, Inc., over a three-year period:

Item
2018, 2017, 2016

Net Sales
$226,000
$212,000
$200,000
Cost of Goods Sold
150,000
140,000
125,000
Gross Profit
$ 76,000
$ 72,000
$ 75,000

Using horizontal analysis and 2016 as the base year. Explain whether the trends are favorable or unfavorable for each item. (Refer to Brief Exercise 227)

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