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Selected comparative financial statements of Haroun Company follow. HAROUN COMPANY Comparative Income Statements For Years Ended December 31, 2021-2015 ($ thousands) Sales 2021 Cost
Selected comparative financial statements of Haroun Company follow. HAROUN COMPANY Comparative Income Statements For Years Ended December 31, 2021-2015 ($ thousands) Sales 2021 Cost of goods sold Gross profit Operating expenses $ 2,803 2,016 787 600 2020 $ 2,455 1,640 815 470 2019 2018 2017 2016 2015 $ 2,234 $ 2,047 $ 1,910 $ 1,776 $ 1,456 1,411 823 431 1,235 812 1,147 1,073 855 763 703 601 318 275 272 226 Net income $ 187 $ 345 $ 392 $ 494 $ 488 $ 431 $ 375 HAROUN COMPANY Comparative Year-End Balance Sheets December 31, 2021-2015 ($ thousands) Assets Cash Accounts receivable, net. Merchandise inventory Other current assets Long-term investments Plant assets, net Total assets Liabilities and Equity 2021 2020 2019 2018 2017 2016 2015 $ 148 1,066 $ 196 $ 204 1,120 3,858 2,809 1,014 2,454 $ 208 777 2,068 $ 216 685 1,857 $ 213 649 $ 220 458 1,577 1,144 99 89 8 e 55 0 98 304 4,721 4,702 4,113 2,321 83 304 2,399 84 44 304 2,133 $ 9,892 $ 8,916 $ 7,840 $ 5,776 $ 5,544 $ 4,960 Current liabilities Long-term liabilities 2,487 2,658 $ 2,092 $ 1,372 2,315 2,252 $ 1,142 1,046 Common stock 1,800 1,800 1,800 Other paid-in capital Retained earnings 450 2,497 450 2,259 450 1,966 1,600 400 1,588 $ 991 1,069 1,600 400 1,484 $ 937 1,157 1,400 350 1,116 304 1,830 $ 4,000 $ 604 868 1,400 350 778 Total liabilities and equity $ 9,892 $ 8,916 $ 7,840 $ 5,776 $ 5,544 $ 4,960 $ 4,000 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 this question by entering your answers in the tabs below. Required 1 Comp IS Required 1 Comp BS Required 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? (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? < Required 1 Comp BS Required 2 >
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