Selected comparative financial statements of Cohorn Company follow:

Required:
a. Compute trend percents for the individual items of both statements using 2000 as the base year.
b. Analyze and comment on the financial statements and trend percents from part a.

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COHORN COMPANY Comparative Income Statement ($000) For Years Ended December 31,2000-2006 2001 2000 $1,594 $1,396 $1,270 $1,164$1,086 $1,010 $828 486 342 128 224 282 278 246 $214 2006 2005 2004 2003 2002 Sales Cost of goods sold Gross profit Operating expenses. Net income 1,146 448 340 108 932 464 266 198 802 468 244 702 462 180 652 434 156 610 400 154 COHORN COMPANY Comparative Balance Sheet ($000) December 31, 2000-2006 2006 2005 2004 2003 2002 2001 2000 Assets Cash Accounts receivable, net Merchandise inventory Other current assets Long-term investments Plant and equipment, net Total assets $ 68 $ 88 $ 9294 98 96 292 710 38 136 960 99 206 515 19 136 825 456 1,738 1,264 1,104 24 480 350 932 836 38 46 42 2,120 2,114 1,852 044 1,078 $4,452 $4,012 $3,528 $2,600 $2,494 $2,232 $1,800 Liabilities and Equity Current liabilities Long-term liabilities Common stock Other contributed capital Retained earnings...- Total liabilities and equity. $4,452 $4,012 $3,528 $2,600 $2,494 $2,232 $1,800 $1,120 942 618 514 446 422 272 390 640 160 338 470 840 180 596 520 640 160 490 480 840 1,194 1,040 1,012 1,000 1,0001,000 250 780 250 648 250 548