Exercise 13-3 (Algo) Computing and analyzing trend percents LO P1 Sales Cost of goods sold Accounts receivable 2021 $ 402,959 208,009 19,503 2020 $ 268,639 138,606 15,689 2019 $ 216,644 113, 788 14,840 2018 $ 153,648 80,260 9,004 2017 $ 116, 400 59,364 7,950 Compute trend percents for the above accounts, using 2017 as the base year. For each of the three accounts, state whether the situation as revealed by the trend percents appears to be favorable or unfavorable. Trend Percent for Net Sales: 1 Denominator: Numerator: 1 Trend percent 2021: / % 2020: / % = % % 2019: / 2018: 1 2017: 1 Is the trend percent for Net Sales favorable or unfavorable? % Numerator: Trend Percent for Cost of Goods Sold: 1 Denominator: 1 Trend percent 2021: / % 2020: 1 % 2019: 1 % 2018: % 1 / 2017:1 %