Selected comparative financial statements of Haroun Company follow. HAROUN COMPANY Comparative Income Statements For Years Ended...

 

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Selected comparative financial statements of Haroun Company follow. HAROUN COMPANY Comparative Income Statements For Years Ended December 31, 2021-2015 2019 2018 $ 1,247 787 460 240 $ 220 ($ thousands) Sales Cost of goods sold Gross profit Operating expense Net income ($ thousands) Assets Cash Accounts receivable, net Merchandise inventory Other current assets Long-term investments Plant assets, net Total assets 2021 $1,565. 1,125 440 335 $ 105 Liabilities and Equity Current liabilities Long-term liabilities Common stock Other paid-in capital Retained earnings Total liabilities and equity 2020 $ 1,371 915 456 262 $ 194 2021 HAROUN COMPANY Comparative Year-End Balance Sheets December 31, 2021-2015 2020 2019 $ 160 1,146 4,147 106 0 5,075 $ 10,634 2,673 2,857 1,935 484 2,685 $ 10,634 $ 211 1,204 3,019 $ 1,143 689 454 177 $ 277 96 e 5,055 $9,585 $ 219 1,090 2,638 59 0 4,422 $ 8,428 2017 $ 1,067 640 $ 1,475 2,421 427 154 $ 273 2018 $ 224 836 2,223 106 327 2,493 $6,209 $2,247 $ 1,227 2,488 1,124 1,935 1,935 1,720 484 430 484 2,113 2,431 1,708 $ 9,585 $ 8,428 $ 6,209 2016 $992 599 393 152 $ 241 2017 $ 232 736 1,997 89 327 2,579 $5,960 $ 1,064 1,149 1,720 430 1,597 $ 5,960 2015 $813 477 336 126 $ 210 2016 $ 229 697 1,696 91 327 2,292 $5,332 $ 1,007 1,244 1,505 376 1,200 $ 5,332 2015 $ 237 492 1,230 47 327 1,967 $ 4,300 $ 649 933 1,505 376 837 $ 4,300 Required: 1. Complete the below table to calculate the trend percents for all components of both statements using 2015 as the base year. ok nces 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 & equity 2021 % % % % 2020 HAROUN COMPANY Balance Sheet Trends December 31, 2021-2015 2019 % % % % % % 2018 % % % % 2017 % % % 2016 % % % % 2015 100.0 % 100.0 100.0 100.0 100.0 100.0 100.0 % 100.0 % 100.0 100.0 100.0 100.0 100.0 % 2015 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? Selected comparative financial statements of Haroun Company follow. HAROUN COMPANY Comparative Income Statements For Years Ended December 31, 2021-2015 2019 2018 $ 1,247 787 460 240 $ 220 ($ thousands) Sales Cost of goods sold Gross profit Operating expense Net income ($ thousands) Assets Cash Accounts receivable, net Merchandise inventory Other current assets Long-term investments Plant assets, net Total assets 2021 $1,565. 1,125 440 335 $ 105 Liabilities and Equity Current liabilities Long-term liabilities Common stock Other paid-in capital Retained earnings Total liabilities and equity 2020 $ 1,371 915 456 262 $ 194 2021 HAROUN COMPANY Comparative Year-End Balance Sheets December 31, 2021-2015 2020 2019 $ 160 1,146 4,147 106 0 5,075 $ 10,634 2,673 2,857 1,935 484 2,685 $ 10,634 $ 211 1,204 3,019 $ 1,143 689 454 177 $ 277 96 e 5,055 $9,585 $ 219 1,090 2,638 59 0 4,422 $ 8,428 2017 $ 1,067 640 $ 1,475 2,421 427 154 $ 273 2018 $ 224 836 2,223 106 327 2,493 $6,209 $2,247 $ 1,227 2,488 1,124 1,935 1,935 1,720 484 430 484 2,113 2,431 1,708 $ 9,585 $ 8,428 $ 6,209 2016 $992 599 393 152 $ 241 2017 $ 232 736 1,997 89 327 2,579 $5,960 $ 1,064 1,149 1,720 430 1,597 $ 5,960 2015 $813 477 336 126 $ 210 2016 $ 229 697 1,696 91 327 2,292 $5,332 $ 1,007 1,244 1,505 376 1,200 $ 5,332 2015 $ 237 492 1,230 47 327 1,967 $ 4,300 $ 649 933 1,505 376 837 $ 4,300 Required: 1. Complete the below table to calculate the trend percents for all components of both statements using 2015 as the base year. ok nces 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 & equity 2021 % % % % 2020 HAROUN COMPANY Balance Sheet Trends December 31, 2021-2015 2019 % % % % % % 2018 % % % % 2017 % % % 2016 % % % % 2015 100.0 % 100.0 100.0 100.0 100.0 100.0 100.0 % 100.0 % 100.0 100.0 100.0 100.0 100.0 % 2015 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?

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To calculate the trend percentages for all components of the income statement and balance sheet we w... View the full answer