Selected comparative financial statements of Haroun Company follow. PROBLEM SET A HAROUN COMPANY Comparative Income Statements Problem 13-1A For Years Ended December 31 Calculating and analyzing $ thousands 2021 2020 2019 2018 2017 2016 2015 trend percents P1 Sales ... $1,694 $1,496 $1,370 $1,264 $1,186 $1, 110 $928 Cost of goods sold . ... 1,246 1,032 902 802 752 710 586 Gross profit . .. ...... 448 464 468 462 434 400 342 Operating expenses ... 330 256 234 170 146 144 118 $ 256 Net income . .. .... $ 118 $ 208 $ 234 $ 292 $ 288 $224 [continued on next page][continued from previous page] HAROUN COMPANY Comparative Year-End Balance Sheets At December 31, $ thousands 2021 2020 2019 2018 2017 2016 2015 Assets Cash. . $ 58 $ 78 $ 82 $ 84 $ 88 $ 86 $ 89 Accounts receivable, net . . . 490 514 466 360 318 302 216 Merchandise inventory. . ... 1,838 1,364 1,204 1,032 936 810 615 Other current assets . . . . . . . 36 32 14 34 28 28 9 Long-term investments. . ... 0 0 0 146 146 146 146 Plant assets, net . . .. 2,020 2,014 1,752 944 978 860 725 Total assets . . $4,442 $4,002 $3,518 $2,600 $2,494 $2,232 $1,800 Liabilities and Equity Current liabilities. . $1,220 $1,042 $ 718 $ 614 $ 546 $ 522 $ 282 Long-term liabilities 1,294 1,140 1, 112 570 580 620 400 Common stock ..... ... . .. 1,000 1,000 1,000 850 850 650 650 Other paid-in capital. ...... 250 250 250 170 170 150 150 Retained earnings. . 678 570 438 396 348 290 318 Total liabilities and equity. .. $4,442 $4,002 $3,518 $2,600 $2,494 $2,232 $1,800 Required Check (1) 2021, Total 1. Compute trend percents for all components of both statements using 2015 as the base year. Round assets trend, 246.8% percents to one decimal. Analysis Component 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