Problem 13-1A (Static) Calculating and analyzing trend percents LO P1 Selected comparative financial statements of Haroun Company follow. HAROUN COMPANY Comparative Income Statements For Years Ended December 31, 2021-2015 ($ thousands) Sales 2021 $ 1,694 2020 $ 1,496 2019 2018 2017 2016 2015 $ 1,370 $ 1,264 $ 1,186 $ 1,110 $928 Cost of goods sold Gross profit 1,246 448 1,032 902 802 752 710 586 Operating expenses Net income 330 $ 118 464 256 468 462 434 400 342 234 170 146 144 118 $ 208 $ 234 $ 292 $ 288 $ 256 $ 224 HAROUN COMPANY Comparative Year-End Balance Sheets December 31, 2021-2015 ($ thousands) Assets 2021 2020 2019 2018 2017 2016 2015 Cash Total assets Accounts receivable, net Merchandise inventory Other current assets Long-term investments Plant assets, net Liabilities and Equity $ 58 490 $ 78 $ 82 1,838 514 1,364 466 1,204 $ 84 360 $ 88 318 $ 86 $ 89 302 216 1,032 936 810 615 36 32 14 34 28 28 9 0 0 0 146 146 146 146 2,020 2,014 1,752 944 978 860 725 $ 4,442 $ 4,002 $ 3,518 $ 2,600 $ 2,494 $ 2,232 $ 1,800 Current liabilities Long-term liabilities $ 1,220 1,294 $ 1,042 Common stock 1,000 1,140 1,000 $ 718 1,112 $ 614 $ 546 $ 522 $ 282 570 580 620 400 1,000 850 850 650 650 Other paid-in capital Retained earnings 250 678 250 570 250 438 170 170 150 150 396 348 290 318 Total liabilities and equity $ 4,442 $ 4,002 $ 3,518 $ 2,600 $ 2,494 $ 2,232 $ 1,800 Required: 1. Complete the below table to calculate the trend percents for all components of both statements using 2015 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 Complete the below table to calculate the trend percents for all components of comparative income statements using 2015 as the base year. (Round your percentage answers to 1 decimal place.) Sales Cost of goods sold Gross profit Operating expenses Net income HAROUN COMPANY Income Statement Trends For Years Ended December 31, 2021-2015 2021 2020 2019 2018 2017 2016 2015 % % % % % % 100.0 % 100.0 100.0 100.0 % 100.0 % % < Required 1 Comp IS Required 1 Comp BS > 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 2015 as the base year. (Round your percentage answers to 1 decimal place.) Assets Cash Accounts receivable, net Merchandise inventory Other current assets Long-term investments Plant assets, net Total assets Liabilities and Equity HAROUN COMPANY Balance Sheet Trends December 31, 2021-2015 2021 2020 2019 2018 2017 2016 2015 % % % % % 100.0 % 100.0 100.0 100.0 100.0 100.0 % % % 100.0 % Current liabilities Long-term liabilities % % % % % % 100.0 % 100.0 Common stock Other paid-in capital Retained earnings Total liabilities & equity < Required 1 Comp IS 100.0 100.0 100.0 % % % % 100.0 % Required 2 > 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) 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? < Required 1 Comp BS Required 2 >