Deere & Company manufactures, distributes, and finances a full range of agricultural equipment; a broad range of industrial equipment for construction, forestry, and public works; and a variety of lawn and grounds care equipment. The company also provides credit, health care, and insurance products for businesses and the general public. Consider the following information from the Deere & Company 2000 Annual Report:
(in millions)		1997	1998	1999	2000
Sales		12,791	13,822	11,751	13,137
Cost of goods sold		8,481	9,234	8,178	8,936
Gross margin		4,310	4,588	3,573	4,201
1. Prepare a statement showing the trend percentages for each item using 1997 as the base year.
2. Comment on the trends noted in part (1).