Exercise 17-3 (Algo) Computing and analyzing trend percents LO P1 Sales Cost of goods sold Accounts receivable 2021 $ 411,073 212, 147 19,978 2020 $ 270, 443 139,676 15,875 2019 $ 213,789 112,382 14,602 2018 $ 154,3601 80, 174 9,030 2017 $113,500 57,885 7,752 Compute trend percents for the above accounts, using 2017 as the base year. For each of the three accounts, state whether the situation as revealed by the trend percents appears to be favorable or unfavorable. 2021: 2020: 2019: 2018: 2017: Trend Percent for Net Sales: Numerator: Denominator: = Trend percent % % => % % % Is the trend percent for Net Sales favorable or unfavorable? 2021: 2020: 2019: 2018: Trend Percent for Cost of Goods Sold: Numerator: Denominator: Trend percent = % % % % 2021: 2020: 2019: 2018: Numerator: Trend Percent for Cost of Goods Sold: Denominator: 2017: Is the trend percent for Cost of Goods Sold favorable or unfavorable? 2021: 2020: 2019: 2018: 2017: = Trend percent = % 906 % % 8 % 96 Trend Percent for Accounts Receivable: Numerator: Denominator: Trend percent % % % % % Is the trend percent for Accounts Receivable favorable or unfavorable