Selected comparative financial statements of Haroun Company follow. 2017 ($ 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 2016 2015 2014 2013 $2,647 $2,318 $2,109 $1,933 $1,804 $1,678 $1,375 1,903 1,548 1,332 1,165 1,083 1,013 807 744 770 777 768 721 665 568 566 443 406 299 260 256 213 $ 178 $ 327 $ 371 $ 469 $ 461 $ 409 $ 355 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 $ 122 $ 162 $ 168 $ 172 $ 178 $ 176 $ 182 880 924 836 641 565 535 378 3, 183 2,317 2,024 1,706 1,532 1,301 944 82 74 45 81 69 70 36 0 0 251 251 251 251 3,894 3,879 3,395 1,914 1,979 1,759 1,509 $8,161 $7,356 $6,468 $4,765 $4,574 $4,092 $3,300 $2,051 $1,725 $1,131 $ 941 $ 817 $ 772 $ 498 2,192 1,910 1,858 863 881 954 716 1,485 1,485 1,485 1,320 1,320 1,155 1,155 371 371 371 330 330 289 289 2,062 1,865 1,623 1,311 1,226 922 642 $8,161 $7,356 $6,468 $4,765 $4,574 $4,092 $3,300 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? (b) Did net income as a percent of sales grow over the past four years? (C) Did inventory increase over this period? 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 percentage answers to 1 decimal place.) HAROUN COMPANY Income Statement Trends For Years Ended December 31, 20192013 2019 2018 2017 2016 2015 2014 2013 Sales % % % % % % 100.0 % Cost of goods sold 100.0 Gross profit 100.0 Operating expenses 100.0 Net income % % % % % % 100.0 % Required 1 Comp IS Required 1 Comp BS > HAROUN COMPANY Balance Sheet Trends December 31, 20192013 2019 2018 2017 2016 2015 2014 2013 Assets Cash % % % % % % 100.0 % Accounts receivable, net 100.0 Merchandise inventory 100.0 Other current assets 100.0 Long-term investments 100.0 Plant assets, net 100.0 Total assets % % % % % % 100.0 % Liabilities and Equity Current liabilities % % % % % % 100.0 % Long-term liabilities 100.0 Common stock 100.0 100.0 Other paid-in capital 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? (b) Did net income as a percent of sales grow over the past four years? (c) Did inventory increase over this period? (a) (b) (c) Did sales grow steadily over this period? Did net income as a percent of sales grow over the past four years? Did inventory increase over this period?