Selected comparative financial statements of Tripoly Company follow PROBLEM SET B Problem 13-1B Calculation and analysis of trend percents A1 P1 TRIPOLY COMPANY For Years Ended December 31, 2017-2011 $ thousands 2017 2016 2015 2014 2013 2012 2011 $560 $610 $630 $680 $740 $770 $860 276 290 294 314 340 350 380 Sales Cost of goods sold... Gross proft Operating expenses.. Net income... 284 320 336 366 00 2040 84 104 112 126 140 144 150 $200 $216 $224 $240 $260 $276 $330 TRIPOLY COMPANY Comparative Balance Sheets December 31, 2017-2011 2017 2016 2015 2014 2013 2012 $ thousands 2011 $44 $46 $ 52 $54 $ 60 $62 130 136 140 144 150 154 68 160 166 172 178 180 186 190 208 Accounts receivable, net Merchandise inventory Other current assets.... Long-term investments . . Plant assets, net Total assets 36 38 38 40 34 34 36 30 26 110 110 110110 510 514 520 412 420 428 - $920 $932 $952 $938 $964 $984 $1.040 Liabilities and Equity s 280 260 160 70 270 $148 92 120 142 148 194 214 160 160 160 160 160 160 70 394 370 330 280 Long-term iabilities 70 70 70 450 426 70 70 Other paid-in capital... Retained earnings Total iabilities and equity... $920 $932 $952 $938 $964 $984 $1.040 Check (1)2017, Total assets trend, 885% 1. Compute trend percents for all components of both statements using 2011 as the base year. (Round percents to one decimal.) Analysis Component 2. Analyze and comment on the financial statements and trend percents from part