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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 $ 2,778 $ 2,433 $ 2,214 $ 2,029 $ 1,893 $ 1,760 $ 1,443
Cost of goods sold 1,997 1,625 1,398 1,223 1,137 1,063 847
Gross profit 781 808 816 806 756 697 596
Operating expenses 595 465 427 315 273 269 224
Net income $ 186 $ 343 $ 389 $ 491 $ 483 $ 428 $ 372

HAROUN COMPANY
Comparative Balance Sheets
December 31, 20192013
($ thousands) 2019 2018 2017 2016 2015 2014 2013
Assets
Cash $ 160 $ 211 $ 219 $ 224 $ 232 $ 229 $ 237
Accounts receivable, net 1,146 1,204 1,090 836 736 697 492
Merchandise inventory 4,147 3,019 2,638 2,223 1,997 1,696 1,230
Other current assets 106 96 59 106 89 91 47
Long-term investments 0 0 0 327 327 327 327
Plant assets, net 5,075 5,055 4,422 2,493 2,579 2,292 1,967
Total assets $ 10,634 $ 9,585 $ 8,428 $ 6,209 $ 5,960 $ 5,332 $ 4,300
Liabilities and Equity
Current liabilities $ 2,673 $ 2,247 $ 1,475 $ 1,227 $ 1,064 $ 1,007 $ 649
Long-term liabilities 2,857 2,488 2,421 1,124 1,149 1,244 933
Common stock 1,935 1,935 1,935 1,720 1,720 1,505 1,505
Other paid-in capital 484 484 484 430 430 376 376
Retained earnings 2,685 2,431 2,113 1,708 1,597 1,200 837
Total liabilities and equity $ 10,634 $ 9,585 $ 8,428 $ 6,209 $ 5,960 $ 5,332 $ 4,300

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?

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) 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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