Problem 17-1A 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, 2019-2013 2019 2018 2017 2016 2015 2014 2013 $2,248 $1,969 $1,792 $1,642 $1,532 $1,425 $1,168 1,618 1,316 1,132 991 921 861 686 630 653 660 651 611 564 482 481 376 345 254 221 218 181 149 $ 277 $ 315 397 $ 390 $ 346 301 HAROUN COMPANY HAROUN COMPANY Comparative Balance Sheets December 31, 2019-2013 2019 2018 2017 2016 2015 2014 2013 $ 130 933 3,376 87 $ 172 980 2,458 78 (s 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 $ 178 182 $ 189 $ 187 $ 193 887 680 599 568 400 2,147 1,809 1,625 1,380 1,001 48 86 73 74 39 266 266 266 266 3,600 2,031 2,099 1,865 1,601 $6,860 $5,054 $4,851 $4,340 $3,500 4,130 4,114 $8,656 $7,802 $2,178 $1,832 2,327 2,027 1,575 1,575 394 394 2,182 1,974 $8,656 $7,802 $1,202 $1,000 $ 868 $ 820 1,972 916 936 1,013 1,575 1,400 1,400 1,225 394 350 350 306 1,717 1,388 1,297 976 $6,860 $5,054 $4,851 $4,340 $ 529 760 1,225 306 680 $3,500 Required: Check my work 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? (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 2019 2018 2017 2016 2015 2014 2013 Sales Cost of goods sold Gross proti Operating expenses 100.0% 100.0 1000 100.0 Net income 100.0 Required 1Como BS