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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
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:

  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?

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.

HAROUN COMPANY
Balance Sheet Trends
December 31, 20212015
2021 2020 2019 2018 2017 2016 2015
Assets
Cash % % % % % % 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 % % % % % % 100.0 %
Liabilities and Equity
Current liabilities % % % % % % 100.0 %
Long-term liabilities 100.0
Common stock 100.0
Other paid-in capital 100.0
Retained earnings 100.0
Total liabilities & equity % % % % % % 100.0 %
  • Required 1 Comp IS

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