Problem $13-1$A $($Static$)$ Calculating and analyzing trend percents LO P$1$

Selected comparative financial statements of Haroun Company follow.

HAROUN COMPANY

Comparative Income Statements

For Years Ended December $31,20212015$

$($$ thousands$)2021202020192018201720162015$

Sales $ $1,694$ $ $1,496$ $ $1,370$ $ $1,264$ $ $1,186$ $ $1,110$ $ $928$

Cost of goods sold $1,2461,032902802752710586$

Gross profit $448464468462434400342$

Operating expenses $330256234170146144118$

Net income $ $118$ $ $208$ $ $234$ $ $292$ $ $288$ $ $256$ $ $224$

HAROUN COMPANY

Comparative Year$-$End Balance Sheets

December $31,20212015$

$($$ thousands$)2021202020192018201720162015$

Assets

Cash $ $58$ $ $78$ $ $82$ $ $84$ $ $88$ $ $86$ $ $89$

Accounts receivable, net $490514466360318302216$

Merchandise inventory $1,8381,3641,2041,032936810615$

Other current assets $3632143428289$

Long$-$term investments $000146146146146$

Plant assets, net $2,0202,0141,752944978860725$

Total assets $ $4,442$ $ $4,002$ $ $3,518$ $ $2,600$ $ $2,494$ $ $2,232$ $ $1,800$

Liabilities and Equity

Current liabilities $ $1,220$ $ $1,042$ $ $718$ $ $614$ $ $546$ $ $522$ $ $282$

Long$-$term liabilities $1,2941,1401,112570580620400$

Common stock $1,0001,0001,000850850650650$

Other paid$-$in capital $250250250170170150150$

Retained earnings $678570438396348290318$

Total liabilities and equity $ $4,442$ $ $4,002$ $ $3,518$ $ $2,600$ $ $2,494$ $ $2,232$ $ $1,800$

Required:

Complete the below table to calculate the trend percents for all components of both statements using $2015$ as the base year.

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?