on 1 and 2 marks for question 2) The following items were taken from the...
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on 1 and 2 marks for question 2) The following items were taken from the financial statements of Ritz, Inc over a four-year period Item Net Sales Cost of Goods Sold Gross Profit 2006 $900,000 640,000 $260.000 2003 $500,000 400.000 $100.000 2005 $650,000 480.000 $170.000 2004 $550,000 420.000 $130.000 Instructions: Using horizontal analysis and 2003 as the base year 1 compute the trend percentages for net sales, cost of goods sold, and gross profit 2. Explain whether the trends are favorable or unfavorable for each item. Solution question 1
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