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Selected comparative financial statements of Haroun Company follow. Required: 1. Complete the below table to calculate the trend percents for all components of both statements
Selected comparative financial statements of Haroun Company follow.
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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Selected comparative financial statements of Haroun Company follow. HAROUN COMPANY Comparative Income Statements For Years Ended December 31, 2021-2015 ($ thousands) Sales 2021 $ 1,642 2020 $1,438 2019 2018 2017 2016 2015 $ 1,309 $1,199 $ 1,119 $ 1,041 $ 853 Cost of goods sold 1,181 961 827 723 672 629 501 Gross profit 461 477 482 476 447 412 352 Operating expenses 351 274 252 186 161 159 132 Net income $ 110 $ 203 $ 230 $ 290 $ 286 $ 253 $ 220 HAROUN COMPANY Comparative Year-End Balance Sheets December 31, 2021-2015 (s thousands) Assets Cash 2021 2020 2019 2018 2017 2016. 2015 $ 96 $127 $ 132 Accounts receivable, net Merchandise inventory Other current assets Long-term investments Plant assets, net Total assets Liabilities and Equity) 693 728 659 $135 505 $ 141 445 $139 422 $ 143 297 2,508 1,825 1,595 1,344 1,207 1,025 744 64 58 36 641 54 55 29 8 0 0 198 3,069 3,057 2,674 1,508 $ 6,430 $ 5,795 $ 5,096 $ 3,754 198 1,559 $ 3,604 198 1,385 198 1,189 $ 3,224 $ 2,600 Current liabilities: 1,618 $1,361 $ 893 Long-term liabilities 1,727 1,504 1,464 Common stock 1,170 1,170 Other paid-in capital Retained earnings 293 1,622 293 1,467 1,170. 293 1,276 $743 680 1,040 $ 645 694 1,040 $ 610 752 $ 393 564 910 91 260 1,031 260 228 228 965 724 505 Total liabilities and equity $ 6,430 $ 5,795 $ 5,096 $ 3,754 $ 3,604 $ 3,224 $ 2,600
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