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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 $ 1,835 $ 1,607 2019 $ 1,462 2018 2017 2016 2015 $ 1,340 $ 1,250 $ 1,163 $ 953 Cost of goods sold 1,318 1,072 922 807 750 702 559 Gross profit 517 535 540 533 500 461 394 Operating expenses 393 308 282 208 180 178 148 Net income $ 124 $ 227 $ 258 $ 325 $ 320 $ 283 $ 246 HAROUN COMPANY Comparative Year-End Balance Sheets December 31, 2021-2015 ($ thousands) Assets Cash Accounts receivable, net Merchandise inventory Other current assets Long-term investments Plant assets, net Total assets Liabilities and Equity 2021 2020 2019 2018 2017 2016 2015 $ 126 906 3,279 $ 167 952 2,387 $ 173 862 2,086 $ 177 661 1,758 $ 184 582 1,579 $ 181 551 1,341 $ 187 389 972 84 76 47 83 71 72 37 0 0 0 4,013 3,997 3,496 258 1,973 258 258 258 2,038 1,813 1,557 $ 8,408 $ 7,579 $ 6,664 $ 4,910 $ 4,712 $ 4,216 $ 3,400 Current liabilities Long-term liabilities 2,113 2,260 $ 1,777 1,968 Common stock Other paid-in capital Retained earnings 1,530 383 2,122 1,530 383 1,921 $ 1,166 1,915 1,530 383 1,670 $ 970 889 1,360 $ 841 908 1,360 $ 796 984 1,190 $ 513 738 1,190 ' 340 1,351 340 1,263 298 948 298 661 Total liabilities and equity $ 8,408 $ 7,579 $ 6,664 $ 4,910 $ 4,712 $ 4,216 $ 3,400 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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