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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 2021 2020
Selected comparative financial statements of Haroun Company follow. HAROUN COMPANY Comparative Income Statements For Years Ended December 31, 2021-2015 ($ thousands) Sales 2021 2020 2019 2018 2017 2016 2015 Cost of goods sold Gross profit Operating expenses $ 2,680 1,926 754 574 $ 2,347 1,567 780 $ 2,135 1,348 787 $ 1,957 $ 1,826 $ 1,698 $ 1,392 1,180 777 1,096 730 1,025 817 673 575 449 412 304 263 260 216 Net income $ 180 $ 331 $ 375 $ 473 $ 467 $ 413 $ 359 HAROUN COMPANY Comparative Year-End Balance Sheets December 31, 2021-2015 ($ thousands) Assets 2021 2020 2019 2018 2017 2016 2015 Cash Accounts receivable, net Merchandise inventory Other current assets Long-term investments Plant assets, net Total assets Liabilities and Equity $ 96 693 2,508 $ 127 728 1,825 $ 132 659 1,595 $ 135 505 1,344 $ 141 445 1,207 $ 139 422 $ 143 297 1,025 744 64 58 36 3,069 3,057 2,674 64 198 1,508 54 198 1,559 55 29 198 1,385 $ 6,430 $ 5,795 $ 5,096 $ 3,754 $ 3,604 $ 3,224 198 1,189 $ 2,600 Current liabilities Long-term liabilities 1,618 1,727 Common stock 1,170 Other paid-in capital Retained earnings 293 1,622 $ 1,361 1,504 1,170 293 1,467 $ 893 1,464 1,170 293 1,276 $ 743 680 1,040 260 1,031 $ 645 694 1,040 260 965 $ 610 $ 393 752 564 910 910 228 228 724 505 Total liabilities and equity $ 6,430 $ 5,795 $ 5,096 $ 3,754 $ 3,604 $ 3,224 $ 2,600 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? Complete this question by entering your answers in the tabs below. Required 1 Comp IS Required 1 Comp BS Required 2
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