Exercise 17-3 (Algo) Computing and analyzing trend percents LO P1 2021 Sales Cost of goods sold Accounts receivable $ 501,263 253,082 24,261 2020 $ 329,778 166,639 19,259 2019 $ 262,771 134,536 17,947 2018 $ 178,756 90,728 10,404 2017 $ 133,400 66,700 9,151 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: Trend Percent for Net Sales: Denominator: Is the trend percent for Net Sales favorable or unfavorable? 2021: 2020: 2019: 2018: 2017: Numerator: Trend Percent for Cost of Goods Sold: Denominator: Is the trend percent for Cost of Goods Sold favorable or unfavorable? Trend Percent for Accounts Receivable: Numerator: Denominator: 2021: 2020: 2019: 2018: 2017: Is the trend percent for Accounts Receivable favorable or unfavorable? = Trend percent = % = % = % = % = % = Trend percent = % = % = % = % = % = Trend percent = % = % = % = % = %