Friendly Bookstore has experienced rapid growth since its formation in 2017. Following is selected data from its annual report Item 2020 2018 2017 Sales $1,260,000 2019 $970,000 $840,000 $600,000 Cost of Goods Sold $971,000 $598,000 $515,000 $360,000 Net Income $53,000 $46,000 $39,000 $30,000 Total Assets $1,100,000 $897,000 $768,000 $545,000 Number of Books 85,703 73,192 63,200 45,187 Sold Required: a. Perform a horizontal common-size analysis of the data given. (5 marks) 2020 Item Sales Cost of Goods Sold Net Income Total Assets Number of Books Sold 2019 2018 2017
