Selected comparative financial statements of Tripoly Company follow.

Required

1. Compute trend percents for all components of both statements using 2013 as the base year. Round percents to one decimal.

2. Analyze and comment on the financial statements and trend percents from part 1.

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TRIPOLY COMPANY Comparative Income Statements For Years Ended December 31 2019 2018 2017 2016 2015 2014 $ thousands 2013 Sales ... Cost of goods sold Gross profit.. Operating expenses. $610 $630 $560 $860 $770 350 $680 314 $740 340 276 290 294 380 284 320 336 366 400 420 480 144 84 104 112 126 140 150 Net income $216 $224 $330 $276 $200 $240 $260 TRIPOLY COMPANY Comparative Year-End Balance Sheets At December 31, $ thousands 2019 2018 2017 2016 2015 2014 2013 Assets $ 44 $ 46 $ 52 $ 54 $ 60 $ 62 $ 68 Cash... Accounts receivable, net 130 136 140 144 150 154 160 Merchandise inventory.. 166 172 178 180 186 190 208 Other current assets.. 34 34 36 38 38 40 40 Long-term investments. 36 26 110 110 110 110 Plant assets, net. Total assets.. 510 514 520 412 420 428 454 $920 $932 $952 $938 $964 $984 $1,040 Liabilities and Equilty Current liabilities... $148 $156 $186 $190 $210 $260 $ 280 Long-term liabilities 92 120 142 148 194 214 260 Common stock ... Other paid-in capital.. Retained earnings... Total liabilities and equity.. 160 160 160 160 160 160 160 70 70 70 70 70 70 70 450 426 394 370 330 280 270 $920 $932 $952 $938 $964 $984 $1,040