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Selected comparative financial statements of Haroun Company follow. HAROUN COMPANY Comparative Income Statements For Years Ended December 31, 20212015 ($ thousands) 2021 2020 2019 2018
Selected comparative financial statements of Haroun Company follow.
HAROUN COMPANY | |||||||
---|---|---|---|---|---|---|---|
Comparative Income Statements | |||||||
For Years Ended December 31, 20212015 | |||||||
($ thousands) | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
Sales | $ 2,337 | $ 2,047 | $ 1,862 | $ 1,707 | $ 1,593 | $ 1,481 | $ 1,214 |
Cost of goods sold | 1,681 | 1,368 | 1,176 | 1,030 | 957 | 895 | 713 |
Gross profit | 656 | 679 | 686 | 677 | 636 | 586 | 501 |
Operating expenses | 499 | 391 | 358 | 264 | 229 | 226 | 188 |
Net income | $ 157 | $ 288 | $ 328 | $ 413 | $ 407 | $ 360 | $ 313 |
HAROUN COMPANY | |||||||
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Comparative Year-End Balance Sheets | |||||||
December 31, 20212015 | |||||||
($ thousands) | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
Assets | |||||||
Cash | $ 156 | $ 206 | $ 214 | $ 218 | $ 227 | $ 224 | $ 231 |
Accounts receivable, net | 1,120 | 1,176 | 1,064 | 816 | 719 | 681 | 480 |
Merchandise inventory | 4,051 | 2,949 | 2,577 | 2,171 | 1,950 | 1,656 | 1,201 |
Other current assets | 104 | 94 | 58 | 103 | 87 | 89 | 46 |
Long-term investments | 0 | 0 | 0 | 319 | 319 | 319 | 319 |
Plant assets, net | 4,956 | 4,937 | 4,319 | 2,438 | 2,519 | 2,239 | 1,923 |
Total assets | $ 10,387 | $ 9,362 | $ 8,232 | $ 6,065 | $ 5,821 | $ 5,208 | $ 4,200 |
Liabilities and Equity | |||||||
Current liabilities | 2,611 | $ 2,196 | $ 1,440 | $ 1,198 | $ 1,040 | $ 983 | $ 634 |
Long-term liabilities | 2,789 | 2,430 | 2,364 | 1,098 | 1,121 | 1,214 | 911 |
Common stock | 1,890 | 1,890 | 1,890 | 1,680 | 1,680 | 1,470 | 1,470 |
Other paid-in capital | 473 | 473 | 473 | 420 | 420 | 368 | 368 |
Retained earnings | 2,624 | 2,373 | 2,065 | 1,669 | 1,560 | 1,173 | 817 |
Total liabilities and equity | $ 10,387 | $ 9,362 | $ 8,232 | $ 6,065 | $ 5,821 | $ 5,208 | $ 4,200 |
Required:
- Complete the below table to calculate the trend percents for all components of both statements using 2015 as the base year.
- 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 the below table to calculate the trend percents for all components of comparative balance sheets using 2015 as the base year.
Note: Round your percentage answers to 1 decimal place.
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- Required 1 Comp IS
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