Selected comparative financial statements of Haroun Company follow. (s thousands) Sales Cost of goods sold Gross profit Operating expenses Net income HAROUN COMPANY Comparative Income Statements For Years Ended December 31, 2019-2013 2019 2018 2017 2016 2015 2014 2013 $2,741 $2,401 $2,184 $2,082 $1,868 $1,737 $1,424 1,971 1,603 1,379 1,207 1,122 1,849 770 798 805 795 746 688 588 587 459 421 311 269 266 221 $ 183 $ 339 $ 384 $ 484 $ 477 $ 422 $ 367 836 HAROUN COMPANY Comparative Balance Sheets December 31, 2019-2013 2019 2018 2017 2016 2015 2014 2013 (5 thousands) Assets Cash Accounts receivable, net Merchandise inventory Other current assets Long-term investments Plant assets, net Total assets Liabilities and Equity Current Liabilities Long-term liabilities Connon stock Other paid in capital Retained earnings Total liabilities and equity $ 115 $ 152 $ 158 5161 $ 168 $ 165 $ 171 826 868 786 602 531 503 355 2,990 2,177 1,902 1,602 1,439 1,222 887 77 69 43 64 65 34 0 236 236 236 236 3,658 3,644 3, 187 1,799 1.859 1,653 1,417 $9,666 36,910 $6,076 $4,476 $4,297 $3,844 $3,100 76 2,085 $1,927 $1,621 $1,063 $ 885 $ 768 $ 726 $ 468 2,061 1,795 1,746 811 828 897 673 1,395 1,395 1,395 1,240 1,240 1,085 349 349 310 310 271 271 1,934 1,750 1,523 1,230 1, 151 865 603 $7,666 $6,910 $6,076 $4,476 $4,297 $3,844 $3,100 349 Required: 1. Complete the below table to calculate the trend percents for all components of both statements using 2013 as the base year. 2. Refer to the results from part 1. (a) Did sales grow steadily over this period? (6) Did net income as a percent of sales grow over the past four years? (Did inventory increase over this period? HAROUN COMPANY Income Statement Trends For Years Ended December 31, 2019-2013 2019 2018 2017 2016 2015 2014 2013 Sales % % % 100.0 % 100.0 100.0 Cost of goods sold Gross profit Operating expenses Net income 100.0 % % % % % 100.0 % Required 1 Comp BS > answers to 1 decimal place.) HAROUN COMPANY Balance Sheet Trends December 31, 2019-2013 2014 2015 2013 2019 2018 2017 2016 Assets % % 100.0 % % 100.0 100.0 100.0 100.0 100.0 100.0 % % % % Cash Accounts receivable, net Merchandise inventory Other current assets Long-term investments Plant assets, net Total assets Liabilities and Equity Current liabilities Long-term liabilities Common stock Other paid-in capital Retained earings Total liabilities & equity % % X % % 100.0 % 100.0 100.0 100.0 100.0 mo % % % 100.0 % Reqvind 1 Comp IS Required 2 >