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  3. 2 the following items were taken from the financia

2 The following items were taken from the financial statements of Kramer Manufacturing, Inc., over...

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Accounting

2 The following items were taken from the financial statements of Kramer Manufacturing, Inc., over a three-year period: Item Net Sales 2022 $226,000 2021 $212,000 2020 $200,000 Cost of Goods Sold Gross Profit 150,000 $76,000 140,000 $72.000 125,000 $75,000 Instructions Using horizontal analysis and 2020 as the base year, compute the trend percentages for net sales, cost of goods sold, and gross profit. Explain whether the trends are favorable or unfavorable for each item

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