Net sales, net income, and total assets for Gene Blue Clothing Emporium for a four-year period follow:

Requirements
1. Compute trend percentages for each item for 2011-2014. Use 2011 as the base year.
2. Compute the rate of return on net sales for 2012-2014, rounding to three decimal places. In this industry, rates of 6% are average, rates above 8% are considered good, and rates above 10% are viewed as outstanding.
3. How does Gene Blue Clothing Emporium€™s return on net sales compare with the industry?

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2013 2012 2011 2014 $381 $357 $321 $331 24 (in thousands) 16 165 23 Net Income..31 Ending Total Assets193 148