($ 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 $1,536 $1,345 $1,224 $1,122 $1,047 $ 974 $ 798 1. 104 628 587 468 387 330 258 236 151 149 124 $ 216 $ 272 268 $ 238 $ 206 HAROUN COMPANY Comparative Balance Sheets December 31, 2019-2013 2019 2018 2017 2016 2015 2014 2013 $ 96 693 2,508 64 ($ 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 $ 127 728 1,825 58 0 3,057 $5,795 $ 132 659 1,595 36 0 2,674 $5,096 $ 135 505 1,344 64 19 B 1,508 $3,754 $ 141 $ 139 $ 143 445 422 297 1,207 1,025 744 54 55 198 19A 198 1,559 1,3851, 189 $3,604 $3,224 $2,600 29 3,069 $6,430 $1,618 1,727 1,170 293 1,622 $6,430 $1,361 1,504 1,170 293 1,467 $5,795 $ 893 1,464 1,170 293 1,276 $5,096 $ 743 6 80 1,040 260 1,031 $3,754 $ 645 694 1,040 260 965 $3,604 $ 610 752 910 228 724 $3,224 $ 393 564 910 228 505 $2,600 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? 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 HAROUN COMPANY Income Statement Trends For Years Ended December 31, 2019-2013 2018 2017 2016 2019 2015 2014 Sales 2013 100.0 % 100.0 100.0 Cost of goods sold Gross profit Operating expenses Net income 100.0 100.0 % 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 HAROUN COMPANY Balance Sheet Trends December 31, 2019-2013 2017 2016 2019 2018 2015 2014 2013 % % % 100.0% 100.0 100.0 100.0 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 100.0 100.0 % % % % % % 100.0 % 100.0 % 100.0 100.0 100.0 Retained earnings 100.0 Total liabilities & equity 100.0 %
