Exercise 17-3 (Algo) Computing and analyzing trend percents LO P1 2021 2020 $341,835 172,618 19,963 2019 $274,566 140,733 18,780 2018 2017 $147,600 73,800 10,081 Sales Cost of goods sold Accounts receivable $519,589 262,295 25,096 $193,356 97,828 11,311 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: Is the trend percent for Net Sales favorable or unfavorable? % % % % % Trend Percent for Cost of Goods Sold: Numerator: Denominator: Trend percent % % % % % 2021: 2020: 2019: 2018: 2017: Is the trend percent for Cost of Goods Sold favorable or unfavorable? Trend Percent for Accounts Receivable: Numerator: Denominator: Trend percent 2021: 2020: 2019: 2018: 2017: Is the trend percent for Accounts Receivable favorable or unfavorable? % % % % %