Selected comparative financial statements of Haroun Company follow. ($ thousands) Sales Cost of goods sold Gross profit Operating expenses Net income HAROUN COMPANY Comparative Income Statements For Years Ended December 31, 2021-2015 2021 2020 2019 2018 2017 $ 1,902 $ 1,666 $ 1,516 $ 1,389 $ 1,296 1,368 1, 112 957 838 778 534 554 559 551 518 406 318 292 215 187 $ 128 $ 236 $ 267 $ 336 $ 331 2016 $ 1,205 728 477 184 $ 293 2015 $ 988 580 408 153 $ 255 HAROUN COMPANY Comparative Year-End Balance Sheets December 31, 2021-2015 2021 2020 2019 2018 2017 2016 2015 $ 160 1,146 4,147 106 (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 Common stock Other paid-in capital Retained earnings Total liabilities and equity $ 211 1,204 3,019 96 0 5,055 $ 9,585 $ 219 1,090 2,638 59 0 4, 422 $ 8,428 $ 224 836 2, 223 106 327 2,493 $ 6, 209 $ 232 736 1,997 89 327 2, 579 $ 5,960 $ 229 697 1, 696 91 327 2,292 $ 5,332 $ 237 492 1,230 47 327 1,967 $ 4,300 O 5, 075 $ 10,634 $ 2,247 2,488 1,935 2,673 2,857 1,935 484 2,685 $ 10,634 $ 1,475 2,421 1,935 484 2,113 $8,428 $ 1,227 1,124 1,720 430 1,708 $ 6, 209 $ 1,064 1,149 1, 720 430 1, 597 $ 5,960 $ 1,007 1,244 1,505 376 1,200 $ 5, 332 $ 649 933 1,505 376 837 2, 431 $ 9,585 $ 4,300 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 Complete the below table to calculate the trend percents for all components of comparative income statements using 2015 as the base year. (Round your percentage answers to 1 decimal place.) HAROUN COMPANY Income Statement Trends For Years Ended December 31, 2021-2015 2020 2019 2018 % % 2021 2017 2016 2015 % % % 100.0 Sales Cost of goods sold Gross profit Operating expenses 100.0 100.0 100.0 100.0 % Net income % (Required i Comp IS Required 1 Comp BS > Complete this question by entering your answers in the tabs below. Required 1 Required 1 Comp IS Comp BS Required 2 Complete the below table to calculate the trend percents for all components of comparative balance sheets using 2015 as the base year. (Round your percentage answers to 1 decimal place.) HAROUN COMPANY Balance Sheet Trends December 31, 2021-2015 2021 2020 2019 2018 2017 2016 2015 Assets Cash % % % % % 100.0% Accounts receivable, net Merchandise inventory Other current assets 100.0 100.0 100.0 100.0 Long-term investments Plant assets, net 100.0 % % % % % % 100.0 % % % % % % % Total assets Liabilities and Equity Current liabilities Long-term liabilities Common stock Other paid-in capital Retained earnings Total liabilities & equity 100.0 % 100.0 100.0 100.0 100.0 % % % % % % 100.0 % 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? (6) 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?
