Brief Exercise 13-9 (Essay) Horizontal analysis (trend analysis) percentages for Spartan Company’s sales, cost of goods sold, and expenses are listed here. Horizontal Analysis 2012 2011 2010 Sales96.2%104.8%100.0% Cost of goods sold101.098.0100.0 Expenses105.695.4100.0 Explain whether Spartan’s net income increased, decreased, or remained unchanged over the 3-year period. Brief Exercise 13-8 (Essay) Vertical analysis (common-size) percentages for Vallejo Company’s sales, cost of goods sold, and expenses are listed here. Vertical Analysis 2012 2011 2010 Sales100 %100 %100 % Cost of goods sold60.3 64.2 66.3 Expenses24.5 26.5 29.2 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.