2018 ($ thousands) Sales Cost of goods sold Gross profit Operating expenses Net income HAROUN COMPANY Comparative Income Statements For Years Ended December 31, 20192013 2019 2017 2016 2015 2014 2013 $2,004 $1,755 $1,597 $1,464 $1,366 $1,270 $1,041 1,441 1,172 1,008 882 767 611 563 583 589 582 546 503 430 428 335 307 226 196 194 161 $ 135 $ 248 $ 282 $ 356 $ 350 $ 309 $ 269 820 HAROUN COMPANY Comparative Balance Sheets December 31, 2019-2013 2019 2018 2017 2016 2015 2014 2013 ($ thousands) Assets Cash Accounts receivable, net Merchandise inventory Other current assets Long-term investments Plant assets, net Total assets Liabilities and Equity Current liabilities Long-term liabilities Common stock Other paid-in capital Retained earnings Total liabilities and equity $ 134 $ 177 $ 183 $ 187 $ 195 $ 192 $ 198 960 1,008 912 700 616 584 412 3,472 2,528 2,209 1,861 1,672 1,420 1,030 89 80 49 88 75 76 40 0 0 0 274 274 274 274 4,248 4,231 3,703 2,088 2,158 1,918 1,646 $8,903 $8,024 $7,056 $5,198 $4,990 $4,464 $3,600 $2,240 $1,884 $1,236 $1,028 $ 892 $ 844 $ 544 2,391 2,083 2,027 941 961 1,041 781 1,620 1,620 1,620 1,440 1,440 1,260 1,260 405 405 405 360 360 315 315 2,247 2,032 1,768 1,429 1,337 1,004 700 $8,903 $8,024 $7,056 $5,198 $4,990 $4,464 $3,600 Required: 1. Complete the below table to calculate the trend percents for all components of both statements using 2013 as the base year. 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? Complete this question by entering your answers in the tabs below. Required 1 Comp IS Required 1 Comp BS Required 2 Complete the below table to calculate the trend percents for all components of comparative income statements using 2013 as the base year. (Rou percentage answers to 1 decimal place.) HAROUN COMPANY Income Statement Trends For Years Ended December 31, 2019-2013 2018 2017 2016 2015 2019 2014 2013 Sales 14.8% % % % % % 100.0 % 100.0 100.0 Cost of goods sold Gross profit Operating expenses Net income 100.0 % % % % % 100.0 % Required 1 Comp Is Required 1 Comp BS Complete the below table to calculate the trend percents for all components of comparative balance sheets using 2013 as the base year. (Round y answers to 1 decimal place.) HAROUN COMPANY Balance Sheet Trends December 31, 2019-2013 2017 2016 2019 2018 2015 2014 2013 Assets Cash % % % % % % 100.0 % Accounts receivable, net 100.0 Merchandise inventory 100.0 100.0 Other current assets Long-term investments Plant assets, net 100.0 100.0 Total assets % % 100.0 % Liabilities and Equity Current liabilities % % % % % % 100.0 % Long-term liabilities 100.0 100.0 100.0 Common stock Other paid-in capital Retained earnings Total liabilities & equity 100.0 % % % % % % 100.0 % 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? (a) (b) (c) Did sales grow steadily over this period? Did net income as a percent of sales grow over the past four years? Did inventory increase over this period?