Problem 13-1A Calculating and analyzing trend percents LO P1 Selected comparative financial statements of Haroun Company follow. ($ thousands) Sales Cost of goods sold Gross profit Operating expenses Net income HAROUN COMPANY Comparative Income Statements For Years Ended December 31, 20192013 2019 2018 2017 2016 2015 2014 2013 $2,066 $1,809 $1,646 $1,509 $1,408 $1,309 $1,073 1,486 1,208 1,040910845791 630 580 601 606 599 563 518 443 441 345 316 233 202 200 166 $ 139 $ 256 $ 290 $ 366 $ 361 $ 318 $ 277 HAROUN COMPANY Comparative Balance Sheets December 31, 2019-2013 2019 2018 2017 2016 2015 2014 2013 $ 119 853 3,086 79 ($ thousands) Assets Cash Accounts receivable, net Merchandise inventory Other current assets Long-term investments Plant assets, net Total assets Liabilities and Equity Current liabilities Long-term liabilities Common stock Other paid-in capital Retained earnings Total liabilities and equity $ 157 $ 163 896 811 2,247 1,963 71 44 0 0 3,762 3,291 $7,133 $6,272 $ 166 622 1,654 79 243 1,857 $4,621 $ 173 548 1,486 67 243 1,918 $4,435 $ 171 519 1,262 67 243 1,706 $3,968 $ 176 366 915 35 243 1,465 $3,200 3,777 $7,914 $1,989 2,125 1,440 360 2,000 $7,914 $1,673 $1,097 1,851 1,801 1,440 1,440 360 360 1,8091,574 $7,133 $6,272 $ 913 836 1,280 320 1,272 $4,621 $ 792 854 1,280 320 1,189 $4,435 $ 749 $ 483 925 694 1,120 1,120 280 280 894 623 $3,968 $3,200 Required: 1. Complete the below table to calculate the trend percents for all components of both statements using 2013 as the base year. 2. Refer to the results from part 1. (a) Did sales grow steadily over this period? (6) Did net income as a percent of sales grow over the past four years? (Did inventory increase over this period? Complete this question by entering your answers in the tabs below. Required 1 Comp IS Required 1 Comp BS Required 2 Complete the below table to calculate the trend percents for all components of comparative income statements using 2013 as the base year. (Round your percentage answers to 1 decimal place.) HAROUN COMPANY Income Statement Trends For Years Ended December 31, 2019-2013 2018 2017 2016 2019 2015 2014 % % Sales Cost of goods sold Gross profit Operating expenses Net income 2013 100.0 % 100.0 100.0 100.0 100.0 % Required 1 Comp IS Required 1 Comp BS Required 2 Complete the below table to calculate the trend percents for all components of comparative balance sheets using 2013 as the base year. (Round your percentage answers to 1 decimal place.) HAROUN COMPANY Balance Sheet Trends December 31, 2019-2013 2017 2016 2019 2018 2015 2014 2013 Assets Cash % % % 100.0 % 100.0 100.0 Accounts receivable, net Merchandise inventory Other current assets Long-term investments Plant assets, net 100.0 100.0 100.0 100.0 % Total assets 100.0 % 100.0 Liabilities and Equity Current liabilities Long-term liabilities Common stock Other paid-in capital Retained earnings Total liabilities & equity 100.0 100.0 100.0 % % % 100.0% ( Required 1 Comp IS Required 2 > Required: 1. Complete the below table to calculate the trend percents for all components of both statements using 2013 as the base year. 2. Refer to the results from part 1. (a) Did sales grow steadily over this period? (b) Did net income as a percent of sales grow over the past four years? (C) Did inventory increase over this period? Complete this question by entering your answers in the tabs below. Required 1 Comp IS Required 1 Comp BS Required 2 Refer to the results from part 1. (a) Did sales grow steadily over this period? (b) Did net income as a percent of sales grow over the past four years? (C) Did inventory increase over this period? (a) (b) (c) Did sales grow steadily over this period? Did net income as a percent of sales grow over the past four years? Did inventory increase over this period?
