Exercise 17-3 (Algo) Computing and analyzing trend percents LO P1 Sales Cost of goods sold Accounts receivable 2021 2020 $ 443,600 $295,733 228,836 21,603 152,524 17,212 2019 $ 234,709 122,702 16,101 2018 $171,948 88,793 10,076 2017 $ 124,600 63,546 8,523 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. Trend Percent for Net Sales: Numerator: Denominator: Trend percent 2021: 2020: 2019: 2018: 2017: 0% 0% 0% 0% 7 0% Is the trend percent for Net Sales favorable or unfavorable? Favorable Numerator: Trend Percent for Cost of Goods Sold: Denominator: Trend percent 2021: 2020: 2019: 2018: 2017: 0% 0% 0% 0% 0% Unfavorable Is the trend percent for Cost of Goods Sold favorable or unfavorable? Trend Percent for Accounts Receivable: Numerator: 1 Denominator: Trend percent 0% 2021: 0% 2020: 0% 2019: 0% 2018: 0% 2017: Is the trend percent for Accounts Receivable favorable or unfavorable? Unfavorable