Selected comparative financial statements of Haroun Company follow. HAROUN COMPANY Comparative Income Statements For Years Ended December 31, 2021-2015 2021 2020 2019 2018 $ 1,256 $ 1,143 $ 1,047 1,030 721 631 410 416 305 239 219 162 $ 99 $ 179 $ 203 $ 254 ($ thousands) Sales Cost of goods sold Gross profit Operating expenses Net income 2015 $ 745 2017 $ 977 586 391 140 2016 $ 909 548 361 138 $ 223 308 115 $ 193 $ 251 HAROUN COMPANY Comparative Year-End Balance Sheets December 31, 2021-2015 2021 2020 2019 2018 2017 2016 2015 $ 196 1. 120 2,809 89 $ 204 1,014 2,454 55 $ 216 685 1,857 $ 213 649 1,577 $ 148 1,066 3,856 99 0 4,722 $ 9,892 $ 220 458 1,144 ($ thousands Assets Cash Accounts receivable, net Merchandise inventory Other current assets Long-term investments Plant assets, net Total assets Liabilities and Equity Current liabilities Long-term liabilities Common stock Other paid-in capital Retained earnings Total liabilities and equity S 200 777 2,060 90 304 2,321 $ 5,776 304 2,133 304 1,830 304 2,399 $ 5,544 4,702 $ 8,916 4,113 $7,040 $ 4,960 $ 4,000 2,487 2,650 1,800 450 2,497 $ 2,092 2,315 1,800 450 2,259 $ 8,916 $ 1,372 2,252 1,800 450 1,966 $ 7,840 $ 1,142 1,046 1,600 400 1,588 $ 5,776 $ 992 1,069 1,600 400 1,484 $ 5,544 $ 937 1,157 1,400 350 1, 116 $ 4,960 $ 604 868 1,400 350 778 $ 4,000 $ 9,892 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? (Did Inventory Increase over this period? Complete this question by entering your answers in the tabs below. Required 1 Required 1 Comp IS Comp BS Required 2 Complete the below table to calculate the trend percents for all components of comparative income statements using 2015 as the base year. (Round your percentage answers to 1 decimal place.) HAROUN COMPANY Income Statement Trends 2021 For Years Ended December 31, 2021-2015 2020 2019 2018 2017 96 % % 2016 2015 Sales %6 % 96 100.0 % Cost of goods sold 100.0 Gross profit 100.0 Operating expenses 100.0 Net income 96 96 96 96 % % 100.0 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? (6) Did net Income as a percent of sales grow over the past four years? (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 Complete the below table to calculate the trend percents for all components of comparative balance sheets using 2015 as the base year. (Round your percentage answers to 1 decimal place.) HAROUN COMPANY Balance Sheet Trends December 31, 2021-2015 2019 2018 2021 2020 2017 2016 2015 Assets Cash 96 96 96 96 96 100.0 % Accounts receivable, net 100.0 Merchandise inventory 100.0 Other current assets 100.0 Long-term investments 100.0 Plant assets, net 100.0 Total assets % 96 % % 100.0 % Liabilities and Equity Current liabilities 96 96 % 96 100.0 % Long-term liabilities 100.0 100.0 Common stock Other paid-in capital Retained earnings 100.0 100.0 Total liabilities & equity 96 % 96 96 % 100.0 % 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? (6) Did net Income as a percent of sales grow over the past four years? (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 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? a (b) Did sales grow steadily over this period? Did net income as a percent of sales grow over the past four years? Did inventory increase over this period?
