Question
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
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? (c) Did inventory increase over this period?
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.)
Complete the below table to calculate the trend percents for all components of comparative balance sheets using 2013 as the base year. (Round your percentage answers to 1 decimal place.)
Selected comparative financial statements of Haroun Company follow. ($ thousands) Sales Cost of goods sold Gross profit Operating expenses Niet income HAROUN COMPANY Comparative Income Statements For Years Ended December 31, 2019-2013 2019 2018 2017 2016 2015 2014 2013 $2,660 $2,330 $2,128 $1,943 $1,813 $1,686 $1,382 1,912 1,555 1,338 1,171 1,088 1,018 811 748 775 782 772 725 668 571 568 445 408 301 261 257 214 $ 180 $ 330 5 374 5 471 $ 464 $ 411 $ 357 HAROUN COMPANY Comparative Balance Sheets December 31, 2019-2013 2019 2018 2017 2016 2015 2014 2013 $ 82 587 2,122 54 $ 108 616 1,545 49 (5 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 carnings Total lisbilities and equity $ 112 $ 114 $ 119 558 428 377 1,350 1,137 1,021 30 54 46 167 167 2,262 1,277 1, 319 $4,312 $3,177 $3,849 $ 117 357 868 46 167 1,173 52,728 $ 121 252 629 24 167 1,007 $2,200 2,596 2,586 $5,441 $4,984 $1,367 1,461 990 248 1,375 $5,441 $1,150 $ 754 1,272 1,238 990 990 248 248 1.244 1,082 $4,904 54,312 $ 627 575 880 220 875 $3,177 $ 544 587 880 220 81 $3,049 $ 515 636 77e 193 614 $2,728 5 332 477 770 193 428 $2,200 HAROUN COMPANY Income Statement Trends For Years Ended December 31, 2019-2013 2018 2016 2019 2017 2015 2014 2013 100.00 Sales % % % % % % 100.0 100.0 Cost of goods sold Gross profit Operating expenses Net income 1000 10009 Required Com BS Balance Shoes December 31, 2019-2013 2010 2018 2017 2016 2015 2013 2014 Assets % % % 100.0 % Cash 100.0 100.0 Accounts receivable, net Merchandise inventory Other current assets Long-term investments Plant assets net 100.0 100.0 1000 96 100 0196 96 96 98 % Total assets Liabilities and Equity Current liabilities Long-term liabilities Common stock 100.0% 1000 100.0 Other paid-in capital Retained earnings Total liabilities & equity 100.0 1000 100.0 56 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? fa) (b) (c) Did sales grow steadily over this period? Did net income as a percent of sales grow over the past four years? Did inventory increase over this period
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