Problem 17-1A Calculation and analysis of trend percents LO A1, P1

Selected comparative financial statements of Haroun Company follow.

HAROUN COMPANY
Comparative Income Statements
For Years Ended December 31, 20172011
($ thousands)	2017			2016			2015			2014			2013			2012			2011
Sales	$	1,413		$	1,238		$	1,126		$	1,032		$	963		$	895		$	734
Cost of goods sold		1,016			827			711			622			578			541			431
Gross profit		397			411			415			410			385			354			303
Operating expenses		303			237			217			160			139			137			114
Net income	$	94		$	174		$	198		$	250		$	246		$	217		$	189

HAROUN COMPANY
Comparative Balance Sheets
December 31, 20172011
($ thousands)	2017			2016			2015			2014			2013			2012			2011
Assets
Cash	$	119		$	157		$	163		$	166		$	173		$	171		$	176
Accounts receivable, net		853			896			811			622			548			519			366
Merchandise inventory		3,086			2,247			1,963			1,654			1,486			1,262			915
Other current assets		79			71			44			79			67			67			35
Long-term investments		0			0			0			243			243			243			243
Plant assets, net		3,777			3,762			3,291			1,857			1,918			1,706			1,465
Total assets	$	7,914		$	7,133		$	6,272		$	4,621		$	4,435		$	3,968		$	3,200
Liabilities and Equity
Current liabilities	$	1,989		$	1,673		$	1,097		$	913		$	792		$	749		$	483
Long-term liabilities		2,125			1,851			1,801			836			854			925			694
Common stock		1,440			1,440			1,440			1,280			1,280			1,120			1,120
Other paid-in capital		360			360			360			320			320			280			280
Retained earnings		2,000			1,809			1,574			1,272			1,189			894			623
Total liabilities and equity	$	7,914		$	7,133		$	6,272		$	4,621		$	4,435		$	3,968		$	3,200

Required: 1. Complete the below table to calculate the trend percents for all components of both statements using 2011 as the base year. (Round your percentage answers to 1 decimal place.)

Complete the below table to calculate the trend percents for all components of comparative income statements using 2011 as the base year.

HAROUN COMPANY
Income Statement Trends
For Years Ended December 31, 20172011
	2017		2016		2015		2014		2013		2012		2011
Sales		%		%		%		%		%		%	100.0	%
Cost of goods sold													100.0
Gross profit													100.0
Operating expenses													100.0
Net income		%		%		%		%		%		%	100.0	%

Complete the below table to calculate the trend percents for all components of comparative balance sheets using 2011 as the base year.

HAROUN COMPANY
Balance Sheet Trends
December 31, 20172011
	2017		2016		2015		2014		2013		2012		2011
Assets
Cash		%		%		%		%		%		%	100.0	%
Accounts receivable, net													100.0
Merchandise inventory													100.0
Other current assets													100.0
Long-term investments													100.0
Plant assets, net													100.0
Total assets		%		%		%		%		%		%	100.0	%
Liabilities and Equity
Current liabilities		%		%		%		%		%		%	100.0	%
Long-term liabilities													100.0
Common stock													100.0
Other paid-in capital													100.0
Retained earnings													100.0
Total liabilities & equity		%		%		%		%		%		%	100.0	%