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 (5 thousands) Sales Cost of goods sold, 2021 2020 $ 1,694 $ 1,496 2019 $ 1,370 2018 2017 2016 2015 $ 1,264 $ 1,186 $ 1,110 $ 928 1,246 1,032 902 802 752 710 586 Gross profit 448 Operating expenses 330 464 256 468 462 434 400 342 234 170 146 144 118 Net income $ 118 $ 208 $ 234 $ 292 $ 288 $ 256 $ 224 ($ thousands) Assets Cash Accounts receivable, net Merchandise inventory Other current assets Long-term investments. Plant assets, net Liabilities and Equity Total assets Current liabilities: Long-term liabilities Common stock other paid-in capital Retained earnings Total liabilities and equity HAROUN COMPANY Comparative Year-End Balance Sheets December 31, 2021-2015) 2021 2020 2019 2018 2017 2016 2015 $ 58 $78 $ 82 $ 84 $ 88 $ 86 $ 89 490 514 466 360 318 302 216 1,838 1,364 1,204 1,032 936 810 615 36 32 14 341 28 28 9 0 0 0 146 146 146 146 2,020 2,014 1,752 944 978 860 725 $ 4,442 $ 4,002 $ 3,5181 $ 2,600 5 2,494 $ 2,232 $1,000 $ 1,220 $ 1,042 $718 5614 $ 546. $522 $ 282 1,294 1,140 1,112 570 580 620 400 1,000 1,000 1,000 850 850 650 650 250 250 250 170 170 150 150 678 570 438 396 348 290 310 $ 4,442 $ 4,002 $3,518 5 2,600 $ 2,494 $ 2,232 $ 1,800 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 past four years? (c) Did inventory increase over this period? Complete this question by entering your answers in the tabs below. Required 11 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 Comp 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 1 decimal place.) HAROUN COMPANY Assets Cash Accounts receivable, net Merchandise inventory Other current assets Long-term investments Plant assets, net Total assets Liabilities and Equity Current abilities Long-term liabilities Common stock Other paid-in capital Retained earnings Total liabilities & equity Balance Sheet Trends December 31, 2021-2015 2021 2020 2019 2018 2017 2016 % Required 1 Comp 15 % 2015 % 100.0 % 100.0 100.0 100.0 100.0 100.0 % 100.0 % % 100.0 % 100.0 100.0 100.0 100.0 Required 2 > 100.0 % Retained earnings 678 Total liabilities and equity $ 4,442 Required: 570 $ 4,002 438 IV 396 $ 3,518 $ 2,600 348 $ 2,494 434 290 $ 2,232 318 $ 1,800 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 15 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?