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Selected comparative financial statements of Haroun Company follow. HAROUN COMPANYComparative Income StatementsFor Years Ended December 31, 20212015($ thousands)2021202020192018201720162015Sales$ 2,683$ 2,350$ 2,138$ 1,960$ 1,829$ 1,701$ 1,394Cost

Selected comparative financial statements of Haroun Company follow.

HAROUN COMPANYComparative Income StatementsFor Years Ended December 31, 20212015($ thousands)2021202020192018201720162015Sales$ 2,683$ 2,350$ 2,138$ 1,960$ 1,829$ 1,701$ 1,394Cost of goods sold1,9291,5691,3501,1811,0981,027818Gross profit754781788779731674576Operating expenses574449412304263260216Net income$ 180$ 332$ 376$ 475$ 468$ 414$ 360HAROUN COMPANYComparative Year-End Balance SheetsDecember 31, 20212015($ thousands)2021202020192018201720162015Assets Cash$ 156$ 206$ 214$ 218$ 227$ 224$ 231Accounts receivable, net1,1201,1761,064816719681480Merchandise inventory4,0512,9492,5772,1711,9501,6561,201Other current assets1049458103878946Long-term investments000319319319319Plant assets, net4,9564,9374,3192,4382,5192,2391,923Total assets$ 10,387$ 9,362$ 8,232$ 6,065$ 5,821$ 5,208$ 4,200Liabilities and Equity Current liabilities2,611$ 2,196$ 1,440$ 1,198$ 1,040$ 983$ 634Long-term liabilities2,7892,4302,3641,0981,1211,214911Common stock1,8901,8901,8901,6801,6801,4701,470Other paid-in capital473473473420420368368Retained earnings2,6242,3732,0651,6691,5601,173817Total 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?

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