Selected comparative financial statements of Haroun Company follow. HAROUN COMPANY Comparative Income Statements For Years Ended December
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Question:
Selected comparative financial statements of Haroun Company follow.
HAROUN COMPANY
Comparative Income Statements
For Years Ended December
$ thousands
Sales $ $ $ $ $ $ $
Cost of goods sold
Gross profit
Operating expenses
Net income $ $ $ $ $ $ $
HAROUN COMPANY
Comparative YearEnd Balance Sheets
December
$ thousands
Assets
Cash $ $ $ $ $ $ $
Accounts receivable, net
Merchandise inventory
Other current assets
Longterm investments
Plant assets, net
Total assets $ $ $ $ $ $ $
Liabilities and Equity
Current liabilities $ $ $ $ $ $
Longterm liabilities
Common stock
Other paidin capital
Retained earnings
Total liabilities and equity $ $ $ $ $ $ $
Required:
Complete the below table to calculate the trend percents for all components of both statements using as the base year.
Refer to the results from part 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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