($ 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 $2,857 $2,502 $2,276 $2,087 $1,947 $1,810 $1,484 2,054 1,671 1,437 1,258 1,169 1,093 871 803 831 839 829 778 717 613 611 478 438 323 280 277 230 $ $ 192 192 $ $ 353 353 $ 401 401 $ 506 $ 498 $ 440 $ 383 HAROUN COMPANY Comparative Balance Sheets December 31, 2019-2013 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 $ 117 $ 120 $ 124 $ 123 $ 127 613 644 583 447 394 373 263 2,218 1,615 1,411 1,189 1,068 907 658 57 51 32 56 48 48 25 0 175 175 175 175 2,715 2,704 2,365 1,334 1,379 1,226 1,052 $5,688 $5,127 $4,508 $3,321 $3,188 $2,852 $2,300 $1,429 $1,202 $ $ 788 $ 656 $ 569 $ 538 $ 347 1,528 1,331 1,295 601 614 665 499 1,035 1,035 1,035 920 920 805 805 259 259 259 230 230 201 201 1,437 1,300 1,131 855 643 448 $5,688 $5,127 $4,508 $3,321 $4,508 $3,321 $3,188 $2,852 $2,300 914 Required: 1. Complete the below table to calculate the trend percents for all components of both statements using 2013 as the base year. 2. Refer to the results from part 1. (a) Did sales grow steadily over this period? (b) Did net income as a percent of sales grow over the past four years? (c) Did inventory increase over this period? ($ 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 $2,857 $2,502 $2,276 $2,087 $1,947 $1,810 $1,484 2,054 1,671 1,437 1,258 1,169 1,093 871 803 831 839 829 778 717 613 611 478 438 323 280 277 230 $ $ 192 192 $ $ 353 353 $ 401 401 $ 506 $ 498 $ 440 $ 383 HAROUN COMPANY Comparative Balance Sheets December 31, 2019-2013 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 $ 117 $ 120 $ 124 $ 123 $ 127 613 644 583 447 394 373 263 2,218 1,615 1,411 1,189 1,068 907 658 57 51 32 56 48 48 25 0 175 175 175 175 2,715 2,704 2,365 1,334 1,379 1,226 1,052 $5,688 $5,127 $4,508 $3,321 $3,188 $2,852 $2,300 $1,429 $1,202 $ $ 788 $ 656 $ 569 $ 538 $ 347 1,528 1,331 1,295 601 614 665 499 1,035 1,035 1,035 920 920 805 805 259 259 259 230 230 201 201 1,437 1,300 1,131 855 643 448 $5,688 $5,127 $4,508 $3,321 $4,508 $3,321 $3,188 $2,852 $2,300 914 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? (b) Did net income as a percent of sales grow over the past four years? (c) Did inventory increase over this period