Exercise 17-3 (Algo) Computing and analyzing trend percents LO P1 2021 2020 Sales Cost of goods sold Accounts receivable $ 542,463 273,682 26,309 $ 359,247 181,274 21,052 2019 $ 282,872 144,436 19,320 2018 $191,130 97,265 11,162 2017 $ 138,500 69,250 9,446 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: Is the trend percent for Net Sales favorable or unfavorable? 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 = % = % = % % % Trend Percent for Accounts Receivable: Numerator: 1 Denominator: Trend percent 1 % % % % Ly % Is the trend percent for Accounts Receivable favorable or unfavorable? 13