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, 2017-2011 ($ thousands) Sales Cost of goods sold Gross profit Operating expenses Net income 2017 2016 2015 2014 20132012 2011 $1,833 $1,605 $1,460 $1,339 $1,249 $1,161 $ 952 702 559 459 393 178 148 $ 122 225 256 324 $ 319 281 $ 245 1,318 1,072 533 308 515 393 9220 538 282 807 532 208 750 499 180 HAROUN COMPANY Comparative Balance Sheets December 31, 2017-2011 2015 2012 ($ thousands) AssetS Cash Accounts receivable, net Merchandise inventory Other current assets Long-term investments Plant assets, net Total assets 2017 2016 2014 2013 2011 5 66882 $ 145 191 $ 199 203 $ 211 208 215 446 3,762 2,738 2,393 2,016 1,8111,538 1,115 43 296 4,602 4,585 4,010 2,263 2,338 2,079 1,785 $9,645 8,693 $7,644 $5,632 $5,405 $4,836 $3,900 1,040 1,092 988 758 633 96 87 54 296 296 296 Liabilities and Equity Current liabilities Long-term liabilities Common stock Other paid-in capital Retained earnings $2,426 $2,040 $1,338 $1,113 $ 966 $914 $589 846 1,755 1,755 1,755 1,560 1,560 1,365 1, 365 341 739 $9,645 8,693 $7,644 $5,632 $5,405 $4,836 $3,900 2,5902,256 2,195 1,019 1,0411,128 439 439 439 390 390 341 2,435 2,203 1,917 1,5501,448 1,088 Total liabilities and equity