K Net sales, net income, and total assets for Accurate Shipping, Inc., for a five-year period follow: (Click the icon to view the data.) Read the requirements. Requirements Data table - (In thousands) 2021 2020 2019 2018 2017 Net sales $ 900 $ 500 $ 354 $ 313 $ 300 19 32 29 31 31 302 268 262 240 200 1. Calculate trend percentages for each item for 2018 through 2021. Use 2017 as the base year and round to the nearest percent. 2. Calculate the rate of return on net sales for 2019 through 2021, rounding to the nearest one-tenth percent. Explain what this means. 3. Calculate asset turnover for 2019 through 2021. Explain what this means. 4. Use a DuPont Analysis to calculate the rate of return on average total assets (ROA) for 2019 through 2021. 5. How does Accurate Shipping's return on net sales for 2021 compare with previous years? How does it compare with that of the industry? In the shipping industry, rates above 9% are considered good, and rates above 11% are outstanding. 6. Evaluate the company's ROA for 2021, compared with previous years and against an 18% benchmark for the industry. Net income Total assets Print Done Print Done 62 1.35 % 68 1.87 % 02 2.98 % the problem statement. Net sales, net income, and total assets for Accurate Shipping, Inc., for a five-year period follow: (Click the icon to view the data.) Read the requirements. Requirement 1. Calculate trend percentages for each item for 2018 through 2021. Use 2017 as the base year and round to the nearest percent. Accurate Shipping, Inc. - Trend Percentages Net sales Net income Total assets 2021 300% 61.3 % 151 % 2020 2019 2018 2017 166.7 % 118 % 300% 100% 93.5% 100 % 100 % 131 % 120 % 100 % 103.2% 134% Requirement 2. Calculate the rate of return on net sales for 2019 through 2021, rounding to the nearest one-tenth percent. Explain what this means. Begin by selecting the rate of return on net sales (return on sales) formula and enter the amounts to calculate the percentages. (Enter amounts in thousands as provided to you in the problem statement. Complete all input fields. Enter "0" for any zero amounts and enter the return on sales amounts as percentages rounded to one-tenth percent, X.X%.) Net income 2019 ( 354 2020 ( 2021 Explain what this means. Net sales 354 500 900 Total assets Return on sales 262 1.35 % 268 = 1.87 % 302 = 2.98 % Return on sales measures the amount of net sales per dollar invested in assets. Requirement 3. Calculate asset turnover for 2019 through 2021. Explain what this means. Begin by selecting the asset turnover formula and then enter the amounts to calculate the ratios. (Enter amounts in thousands as provided to you in the problem statement. Round intermediary calculation to the nearest thousand. Round the asset turnover ratios to three decimal places, X.XXX.) 2019 2020 2021 Net income 502 530 570 Average total assets 2 2 2 Asset turnover 251 265 285 Explain what this means. Asset turnover means the amount of net sales per dollar invested in assets. Requirement 4. Use a DuPont Analysis to calculate the rate of return on average total assets (ROA) for 2019 through 2021. Begin by selecting the ROA formula using the DuPont analysis and then enter the amounts to calculate the ratio. (Enter percentages rounded to one-tenth percent, X.X%. Enter other component ratios as decimals to three places, .XXX.) Rate of return on sales 2019 % 2020 % 2021 % Asset turnover ROA % % % Requirement 5. How does Accurate Shipping's return on net sales for 2021 compare with previous years? How does it compare with that of the industry? In the shipping industry, rates above 9% are considered good, and rates above 11% are outstanding. Accurate Shipping's rate of return on net sales for 2021 compares favorably with the industry rate of 9%. It's 2021 rate of return on net sales has improved from 2020 and deteriorated from 2019. Requirement 6. Evaluate the company's ROA for 2021, compared with previous years and against an 18% benchmark for the industry. with the 18% benchmark for the industry. It's 2021 ROA has Accurate Shipping's return on assets (ROA) for 2021 compares from 2020 and from 2019.