Selected comparative financial statements of Haroun Companyfollow.
HAROUN COMPANY |
Comparative Income Statements |
For Years Ended December 31, 2017–2011 |
($ thousands) | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 |
Sales | $ | 1,648 | | $ | 1,443 | | $ | 1,313 | | $ | 1,204 | | $ | 1,123 | | $ | 1,044 | | $ | 856 | |
Cost of goods sold | | 1,184 | | | 963 | | | 828 | | | 725 | | | 674 | | | 630 | | | 502 | |
Gross profit | | 464 | | | 480 | | | 485 | | | 479 | | | 449 | | | 414 | | | 354 | |
Operating expenses | | 353 | | | 276 | | | 253 | | | 187 | | | 162 | | | 160 | | | 133 | |
Net income | $ | 111 | | $ | 204 | | $ | 232 | | $ | 292 | | $ | 287 | | $ | 254 | | $ | 221 | |
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HAROUN COMPANY |
Comparative Balance Sheets |
December 31, 2017–2011 |
($ thousands) | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 |
Assets | | | | | | | | | | | | | | | | | | | | | |
Cash | $ | 130 | | $ | 172 | | $ | 178 | | $ | 182 | | $ | 189 | | $ | 187 | | $ | 193 | |
Accounts receivable, net | | 933 | | | 980 | | | 887 | | | 680 | | | 599 | | | 568 | | | 400 | |
Merchandise inventory | | 3,376 | | | 2,458 | | | 2,147 | | | 1,809 | | | 1,625 | | | 1,380 | | | 1,001 | |
Other current assets | | 87 | | | 78 | | | 48 | | | 86 | | | 73 | | | 74 | | | 39 | |
Long-term investments | | 0 | | | 0 | | | 0 | | | 266 | | | 266 | | | 266 | | | 266 | |
Plant assets, net | | 4,130 | | | 4,114 | | | 3,600 | | | 2,031 | | | 2,099 | | | 1,865 | | | 1,601 | |
Total assets | $ | 8,656 | | $ | 7,802 | | $ | 6,860 | | $ | 5,054 | | $ | 4,851 | | $ | 4,340 | | $ | 3,500 | |
Liabilities and Equity | | | | | | | | | | | | | | | | | | | | | |
Current liabilities | $ | 2,178 | | $ | 1,832 | | $ | 1,202 | | $ | 1,000 | | $ | 868 | | $ | 820 | | $ | 529 | |
Long-term liabilities | | 2,327 | | | 2,027 | | | 1,972 | | | 916 | | | 936 | | | 1,013 | | | 760 | |
Common stock | | 1,575 | | | 1,575 | | | 1,575 | | | 1,400 | | | 1,400 | | | 1,225 | | | 1,225 | |
Other paid-in capital | | 394 | | | 394 | | | 394 | | | 350 | | | 350 | | | 306 | | | 306 | |
Retained earnings | | 2,182 | | | 1,974 | | | 1,717 | | | 1,388 | | | 1,297 | | | 976 | | | 680 | |
Total liabilities and equity | $ | 8,656 | | $ | 7,802 | | $ | 6,860 | | $ | 5,054 | | $ | 4,851 | | $ | 4,340 | | $ | 3,500 | |
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Required:
1. Complete the below table to calculate the trendpercents for all components of both statements using 2011 as thebase year. (Round your percentage answers to 1 decimalplace.)
Complete this questionby entering your answers in the tabsbelow.
Complete the below table to calculate the trend percents for allcomponents of comparative income statements using 2011 as the baseyear.
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| HAROUN COMPANY | Income Statement Trends | For Years Ended December 31,2017–2011 | | 2017 | | 2016 | | 2015 | | 2014 | | 2013 | | 2012 | | 2011 | | Sales | | % | | % | | % | | % | | % | | % | 100.0 | % | Cost of goods sold | | | | | | | | | | | | | 100.0 | | Gross profit | | | | | | | | | | | | | 100.0 | | Operating expenses | | | | | | | | | | | | | 100.0 | | Net income | | % | | % | | % | | % | | % | | % | 100.0 | % |
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