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Selected comparative financial statements of Haroun Company follow. HAROUN COMPANY Comparative Income Statements For Years Ended December 31, 20192013 ($ thousands) 2019 2018 2017 2016

Selected comparative financial statements of Haroun Company follow.

HAROUN COMPANY
Comparative Income Statements
For Years Ended December 31, 20192013
($ thousands) 2019 2018 2017 2016 2015 2014 2013
Sales $ 1,811 $ 1,587 $ 1,443 $ 1,323 $ 1,235 $ 1,148 $ 941
Cost of goods sold 1,302 1,059 911 797 741 693 552
Gross profit 509 528 532 526 494 455 389
Operating expenses 388 303 278 205 178 176 146
Net income $ 121 $ 225 $ 254 $ 321 $ 316 $ 279 $ 243
HAROUN COMPANY
Comparative Balance Sheets
December 31, 20192013
($ thousands) 2019 2018 2017 2016 2015 2014 2013
Assets
Cash $ 119 $ 157 $ 163 $ 166 $ 173 $ 171 $ 176
Accounts receivable, net 853 896 811 622 548 519 366
Merchandise inventory 3,086 2,247 1,963 1,654 1,486 1,262 915
Other current assets 79 71 44 79 67 67 35
Long-term investments 0 0 0 243 243 243 243
Plant assets, net 3,777 3,762 3,291 1,857 1,918 1,706 1,465
Total assets $ 7,914 $ 7,133 $ 6,272 $ 4,621 $ 4,435 $ 3,968 $ 3,200
Liabilities and Equity
Current liabilities $ 1,989 $ 1,673 $ 1,097 $ 913 $ 792 $ 749 $ 483
Long-term liabilities 2,125 1,851 1,801 836 854 925 694
Common stock 1,440 1,440 1,440 1,280 1,280 1,120 1,120
Other paid-in capital 360 360 360 320 320 280 280
Retained earnings 2,000 1,809 1,574 1,272 1,189 894 623
Total liabilities and equity $ 7,914 $ 7,133 $ 6,272 $ 4,621 $ 4,435 $ 3,968 $ 3,200

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?

HAROUN COMPANY
Income Statement Trends
For Years Ended December 31, 20192013
2019 2018 2017 2016 2015 2014 2013
Sales % % % % % % 100.0 %
Cost of goods sold 100.0
Gross profit 100.0
Operating expenses 100.0
Net income % % % % % % 100.0

%

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