Exercise 17-3 (Algo) Computing and analyzing trend percents LO P1 2021 2020 Sales 746,585 $ 487,964 2019 $387,273 Cost of goods sold 360,761 Accounts receivable 36,060 235,823 28,448 189,241 26,412 2018 $ 273,691 132, 422 15,984 2017 196, 900 94,512 13,507 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: Numerator: Analysis period net sales Trend Percent for Net Sales: Base year net sales Is the trend percent for Net Sales favorable or unfavorable? 2021: 2020: Denominator: = Trend percent = 0 96 = 0 96 = 0 96 0 96 0 96 Trend Percent for Cost of Goods Sold: Numerator: Denominator: Trend percent 0 96 0 96 2019: 2018: 2017: Is the trend percent for Cost of Goods Sold favorable or unfavorable? Trend Percent for Accounts Receivable: 2021: 2020: 2019: 2018: Numerator: 1 2017: Is the trend percent for Accounts Receivable favorable or unfavorable? Denominator: = 0 96 = 0 96 = 0 96 Trend percent 0 96 0 96 0 96 0 96 0 96