Selected comparative financial statements of Haroun Company follow. Required: 1.

Question

Selected comparative financial statements of Haroun Company follow.

Required:
1. Complete the below table to calculate the trend percents for all components of both statements using 2011 as the base year. (Round your percentage answers to 1 decimal place.)

HAROUN COMPANY Comparative Income Statements For Years Ended December 31, 2017–2011 ($ thousands) 2017 2016 2015 2014 2013 2012 2011 Sales $ 2,780 $ 2,435 $ 2,215 $ 2,030 $ 1,895 $ 1,762 $ 1,444 Cost of goods sold 2,000 1,626 1,399 1,225 1,138 1,064 848 Gross profit 780 809 816 805 757 698 596 Operating expenses 595 465 427 315 273 269 224 Net income $ 185 $ 344 $ 389 $ 490 $ 484 $ 429 $ 372

Explanation / Answer

HAROUN COMPANY

Income Statement Trends

For the year ended December 31, 2017-2011

2017

2016

2015

2014

2013

2012

2011

Sales

192.5%

168.6%

153.4%

140.6%

131.2%

122.0%

100.0%

Cost of Goods Sold

235.8%

191.7%

165.0%

144.5%

134.2%

125.5%

100.0%

Gross Profit

130.9%

135.7%

136.9%

135.1%

127.0%

117.1%

100.0%

Operating Expenses

265.6%

207.6%

190.6%

140.6%

121.9%

120.1%

100.0%

Net Income

49.7%

92.5%

104.6%

131.7%

130.1%

115.3%

100.0%

HAROUN COMPANY

Comparative Balance Sheet Trends

December 31, 2017-2011

2017

2016

2015

2014

2013

2012

2011

Assets

Cash

67.2%

88.7%

92.6%

94.1%

98.0%

96.6%

100.0%

Accounts Receivables, Net

233.1%

244.9%

221.7%

170.0%

149.6%

141.8%

100.0%

Merchandise Inventory

337.3%

245.6%

214.6%

180.8%

162.4%

137.9%

100.0%

Other Current Assets

224.4%

200.0%

124.4%

222.0%

187.8%

190.2%

100.0%

Long term Investments

0.0%

0.0%

0.0%

100.0%

100.0%

100.0%

100.0%

Plant assets, net

257.9%

256.9%

224.7%

126.8%

131.1%

116.5%

100.0%

Total Assets

247.3%

222.9%

196.0%

144.4%

138.6%

124.0%

100.0%

Liabilities and Equity

Current Liabilities

411.8%

346.3%

227.2%

189.1%

164.0%

155.1%

100.0%

Long-Term Liabilities

306.2%

266.7%

259.5%

120.5%

123.0%

133.3%

100.0%

Common Stock

128.6%

128.6%

128.6%

114.3%

114.3%

100.0%

100.0%

Other Paid-in Capital

128.4%

128.4%

128.4%

114.2%

114.2%

100.0%

100.0%

Retained Earnings

321.0%

290.4%

252.7%

204.2%

191.0%

143.5%

100.0%

Total Liabilities and equity

247.3%

222.9%

196.0%

144.4%

138.6%

124.0%

100.0%

HAROUN COMPANY

Income Statement Trends

For the year ended December 31, 2017-2011

2017

2016

2015

2014

2013

2012

2011

Sales

192.5%

168.6%

153.4%

140.6%

131.2%

122.0%

100.0%

Cost of Goods Sold

235.8%

191.7%

165.0%

144.5%

134.2%

125.5%

100.0%

Gross Profit

130.9%

135.7%

136.9%

135.1%

127.0%

117.1%

100.0%

Operating Expenses

265.6%

207.6%

190.6%

140.6%

121.9%

120.1%

100.0%

Net Income

49.7%

92.5%

104.6%

131.7%

130.1%

115.3%

100.0%

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