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, 20192013 2019 2018 2017 2016 2015 2014 2013 $1,502 $1,315 $1,197 $1,097 $1,023 $ 952 $ 780 1,080 878 756 661 615 575 458 422 437 441 436 408 377 322 321 251 231 170 147 146 121 $ 101 $ 186 $ 210 $ 266 $ 261 $ 231 $ 201 HAROUN COMPANY Comparative Balance Sheets December 31, 20192013 2019 2018 2017 2016 2015 2014 2013 ($ 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 $ 85 $ 113 613 644 2,218 1,615 57 51 0 0 2,715 2,704 $5,688 $5,127 $ 117 583 1,411 32 0 2,365 $4,508 $ 120 447 1,189 56 175 1,334 $3,321 $ 124 394 1,068 48 175 1,379 $3,188 $ 123 $ 127 373 263 907 658 48 25 175 175 1,226 1,052 $2,852 $2,300 $ RA $ $1,429 $1,202 1,528 1,331 1,035 1,035 259 259 1,437 1,300 $5,688 $5,127 $ 788 1,295 1,035 259 1,131 $4,508 656 601 920 230 914 $3,321 $ 569 614 920 230 855 $3,188 538 $ 347 665 499 805 805 201 201 643 448 $2,852 $2,300 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? (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 2013 as the base year. (Round your percentage answers to 1 decimal place.) HAROUN COMPANY Income Statement Trends For Years Ended December 31, 2019-2013 2018 2017 2016 2019 2015 2014 2013 % % % % % % 100.0 100.0 Sales Cost of goods sold Gross profit Operating expenses Net income 100.0 100.0 100.0 % Required 1 Comp IS Required 1 Comp BS > Required 1 Comp IS Required 1 Comp BS Required 2 Complete the below table to calculate the trend percents for all components of comparative balance sheets using 2013 as the base year. (Round your percentage answers to 1 decimal place.) HAROUN COMPANY Balance Sheet Trends December 31, 2019-2013 2019 2018 2017 2016 2015 2014 2013 Assets Cash % % % % % 100.0 % 100.0 100.0 Accounts receivable, net Merchandise inventory Other current assets Long-term investments Plant assets, net 100.0 100.0 100.0 Total assets % % % 100.0 % Liabilities and Equity Current liabilities % % % 100.0 % Long-term liabilities 100.0 100.0 Common stock Other paid-in capital 100.0 Retained earnings 100.0 Total liabilities & equity 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? (6) Did net income as a percent of sales grow over the past four years? (c) Did inventory increase over this period?