Sales Cost of goods sold Accounts receivable 2021 $ 684,903 351, 701 33,210 2020 $444, 742 228,618 26,106 2019 $366,043 190.082 25.037 2018 $ 261,459 134,794 15,269 2017 $ 188,100 95,931 12,866 Compute trend percents for the above accounts, using 2017 as the base year. For each of the three accounts, state whether the situation as revealed by the trend percents appears to be favorable or unfavorable. Exercise 17-3 (Algo) Computing and analyzing trend percents LO P1 2021 2020 2019 2018 2017 Sales $ 684,903 $ 444,742 $ 366,043 $ 261,459 $ 188, 100 Cost of goods sold 351, 701 228,618 190,082 134,794 95,931 Accounts receivable 33,218 26, 106 25,037 15,269 12,866 Compute trend percents for the above accounts, using 2017 as the base year. For each of the three accounts, state whether the situation as revealed by the trend percents appears to be favorable or unfavorable. Trend Percent for Not Sales: Denominator Numerator: Trend percent % % % 2021: 2020: 2019: 2018: 2017: Is the trend percent for Net Sales favorable or unfavorable? % % Trend Percent for Cost of Goods Sold Denominator: Numerator: Trend percent % % % 2021: 2020: 2019: 2018: 2017: Is the trend percent for Cost of Goods Sold favorable or unfavorable? % % Trend Percent for Accounts Receivable: Denominator Numerator: Trend percent Numerator: Trend Percent for Accounts Receivable: 1 Denominator: / Trend percent H11 2021: / = % 2020: / % 2019: / III 11 % 2018: / % % 2017: = Is the trend percent for Accounts Receivable favorable or unfavorable