TASK 1) (40 pts) ABC company's Income Statements for 2017-2021 are given below: 2020 2019 2018 2017 2016 Sales Revenue $576,000 $384,000 $360,000 $240,000 $168,000 COGS (-) 316,800 192,000 144,000 132,000 117,600 Gross Profit 259,200 192,000 216,000 108,000 50,400 Operating Expenses (-) 132,480 72.960 82,800 72,000 35,280 General Admin Expenses (-) 86,400 49,920 54,000 43,200 25,200 Marketing and Sales Expenses (-) 46,080 23,040 28,800 28,800 10080 Operating Profit 126,720 119,040 133,200 36,000 15120 Interest Expense (-) 19,200 16,800 24,000 24,000 24,000 Gain on Sale of an unused building 38,400 0 14400 0 19,200 Profit Before Tax 145,920 102,240 123,600 12000 10320 Tax Expense (-) 11673.6 8179.2 9888 960 825.6 Net Profit 134,246 94,061 113,712 11040 9494.4 a) Show the index-trend percentages for each item for five years, taking 2017 as the base year. (Show supportive calculations) (15 pts) b) Indicate whether the trend for COGS and Marketing and Sales Expenses are Favorable or Unfavorable? (5 pts) c) Write your conclusion on whether the overall trend in Net Profit is Favorable or Unfavorable, explaining the reasons (Provide at least three reasons) (5 pts, min 80 w.) d) If there were 10% inflation in 2018, 5% inflation in 2019, 7% inflation in 2020, and 5% inflation in 2021, would you change your conclusion for (c)? (Support your answer by numbers and calculations) (15 pts, min 100 w.)