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Selected comparative financial statements of Haroun Company follow. HAROUN COMPANY Comparative Income Statements For Years Ended December 31, 2021-2015 ($ thousands) Sales Cost of
Selected comparative financial statements of Haroun Company follow. HAROUN COMPANY Comparative Income Statements For Years Ended December 31, 2021-2015 ($ thousands) Sales Cost of goods sold 2021 $ 1,840 2020 $ 1,612 2019 $ 1,467 2018 2017 2016 2015 $ 1,344 $ 1,254 $ 1,166 $ 956 1,323 1,076 926 810 753 704 561 Gross profit 517 536 541 534 501 462 395 Operating expenses 393 308 282 208 180 178 148 Net income $ 124 $ 228 $ 259 $ 326 $ 321 $ 284 $247 HAROUN COMPANY Comparative Year-End Balance Sheets December 31, 2021-2015 Total assets ($ thousands) Assets Cash Accounts receivable, net Merchandise inventory Other current assets Long-term investments Plant assets, net Liabilities and Equity 2021 2020 2019 2018 2017 2016 2015 $ 145 $ 191 $ 199 $ 203 $ 211 $ 208 1,040 1,092 988 758 668 633 $215 446 3,762 2,738 2,393 2,016 1,811 1,538 96 87 54 96 81 82 1,115 43 8 8 296 296 296 4,602 4,585 4,010 2,263 2,338 2,079 $ 9,645 $ 8,693 $ 7,644 $ 5,632 $ 5,405 $ 4,836 2961 1,785 $ 3,900 Current liabilities 2,426 $ 2,040 $ 1,338 Long-term liabilities 2,590 2,256 Common stock 1,755 1,755 Other paid-in capital Retained earnings 439 2,435 4391 2,203 2,195 1,755 439 1,917 $ 1,113 1,019 1,560 $ 966 $ 914 $ 589 1,041 1,560 1,128 390 1,550 390 1,448 1,365 846 1,365 341 1,088 341 759 Total liabilities and equity $ 9,645 $ 8,693 $ 7,644 $ 5,632 $ 5,405. $ 4,836 $ 3,900 Required: 1. Complete the below table to calculate the trend percents for all components of both statements using 2015 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?
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