Selected comparative financial statements of Haroun Company follow.

Required

1. Compute trend percents for all components of both statements using 2014 as the base year. Round percents to one decimal. Analysis Component

2. Refer to the results from part 1. 

(a) Did sales grow steadily over this period? 

(b) Did net income as a percent of sales grow over the past four years?

(c) Did inventory increase over this period?

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HAROUN COMPANY Comparative Income Statements For Years Ended December 31 S thousands 2020 2019 2018 2017 2016 2015 2014 Sales . $1,694 $1,496 $1,370 $1,264 $1,186 $1,110 $928 Cost of goods sold 1,246 1,032 902 802 752 710 586 Gross profit.. 448 464 468 462 434 400 342 Operating expenses.. 330 256 234 170 146 144 118 Net income . $ 118 $ 208 $ 234 $ 292 $ 288 $ 256 $224 HAROUN COMPANY Comparative Year-End Balance Sheets At December 31, $ thousands 2020 2019 2018 2017 2016 2015 2014 Assets $ 58 $ 78 $ 82 $ 84 $ 88 $ 86 $ 89 Cash..... Accounts receivable, net .. 490 514 466 360 318 302 216 Merchandise inventory..... 1,838 1,364 1,204 1,032 936 810 615 Other current assets. 36 32 14 34 28 28 Long-term investments.... 146 146 146 146 2,020 $4,442 Plant assets, net. 2,014 1,752 944 978 860 725 Total assets.. $4,002 $3,518 $2,600 $2,494 $2,232 $1,800 Liabilities and Equity $1,220 $1,042 $ 718 $ 614 $ 546 $ 522 $ 282 Current liabilities... Long-term liabilities 1,294 1,140 1,112 570 580 620 400 Common stock . 1,000 1,000 1,000 850 850 650 650 Other paid-in capital.. 250 250 250 170 170 150 150 Retained earnings... Total liabilities and equity... 678 570 438 396 348 290 318 $4,442 $4,002 $3,518 $2,600 $2,494 $2,232 $1,800