Question: Express the balance sheet data in trend percents with 2 0 1 8 as the base year Crane Corp. Income Statement For years ended December

Express the balance sheet data in trend percents with 2018 as the base year Crane Corp.
Income Statement
For years ended December 31
202020192018
Sales $148,000 $136,000 $118,000
Cost of goods sold 89,09685,00075,520
Gross profit from sales 58,90451,00042,480
Selling expenses 20,89818,76815,576
Administrative expenses 13,37911,9689,735
Total operating expenses 34,27730,73625,311
Income before taxes 24,62720,26417,169
Income taxes 4,5884,1483,481
Net income $20,039 $16,116 $13,688

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