Question

Selected comparative financial statements of Haroun Company follow HAROUN COMPANY Comparative Income Statements For Years Ended December 31, 2017-2011 (thousands) Sales Cost of goods sold Gross profit Operating expenses Net income 2017 2016 2015 2014 2013 2012 2011 $2,089 $1,829 $1,664 $1,526 $1,424 $1,324 $1,085 637 448 168 $ 141 258 $293 370 364 323 280 1,502 1,222 _1,051 613 320 587 446 607 349 606 236 855 569 205 799 525 202 HAROUN COMPANY Comparative Balance Sheets December 31, 2017-2011 (thousands) Assets 2017 2016 2015 2014 2013 2012 2011 $ 93123 $127 $ 130 135 $133 138 286 715 as Accounts receivable, net Merchandise inventory Other current assets Long-term investments Plant assets, net Total assets Liabilities and Equity Current liabilities Long-term liabilities Common stock Other paid-in capital Retained earnings Total liabilities and equity 00 634 3A 667 486 428 405 986 2,411 1,755 1,534 1,292 ,161 190 2,9502,9392,571 1,451,499 1,333 ,143 $6,183 $5,573 $4,900 $3,610 $3,465 $3,100 $2,500 190 190 190 $1,557 $1,309 859 714 620 586 378 543 875 219 485 $6,183 $5,573 $4,900 $3,610 $3,465 $3,100 $2,500 1,663 ,448 1,409 668 1,125 1,125 1,125 1,000 1,000 250 927 654 724 875 219 696 250 992 1,557 1,410 ,226 Required: 1. Complete the below table to calculate the trend percents for all components of both statements using 2011 as the base year. (Round your percentage answers to 1 decimal place.)
Selected comparative financial statements of Haroun Company follow. HAROUN COMPANY Comparative Income Statements For Years Ended December 31, 2017–2011 ($ thousands) 2017 2016 2015 2014 2013 2012 2011 Sales $ 2,089 $ 1,829 $ 1,664 $ 1,526 $ 1,424 $ 1,324 $ 1,085 Cost of goods sold 1,502 1,222 1,051 920 855 799 637 Gross profit 587 607 613 606 569 525 448 Operating expenses 446 349 320 236 205 202 168 Net income $ 141 $ 258 $ 293 $ 370 $ 364 $ 323 $ 280 HAROUN COMPANY Comparative Balance Sheets December 31, 2017–2011 ($ thousands) 2017 2016 2015 2014 2013 2012 2011 Assets Cash $ 93 $ 123 $ 127 $ 130 $ 135 $ 133 $ 138 Accounts receivable, net 667 700 634 486 428 405 286 Merchandise inventory 2,411 1,755 1,534 1,292 1,161 986 715 Other current assets 62 56 34 61 52 53 28 Long-term investments 0 0 0 190 190 190 190 Plant assets, net 2,950 2,939 2,571 1,451 1,499 1,333 1,143 Total assets $ 6,183 $ 5,573 $ 4,900 $ 3,610 $ 3,465 $ 3,100 $ 2,500 Liabilities and Equity Current liabilities $ 1,557 $ 1,309 $ 859 $ 714 $ 620 $ 586 $ 378 Long-term liabilities 1,663 1,448 1,409 654 668 724 543 Common stock 1,125 1,125 1,125 1,000 1,000 875 875 Other paid-in capital 281 281 281 250 250 219 219 Retained earnings 1,557 1,410 1,226 992 927 696 485 Total liabilities and equity $ 6,183 $ 5,573 $ 4,900 $ 3,610 $ 3,465 $ 3,100 $ 2,500 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.)

Answer 1

		Formula used is current year value / 2011 year value (expressed as % age)
Answer 1)		($ thousands)	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%	191.8%	165.0%	144.4%	134.2%	125.4%	100.0%
		Gross profit	131.0%	135.5%	136.8%	135.3%	127.0%	117.2%	100.0%
		Operating expenses	265.5%	207.7%	190.5%	140.5%	122.0%	120.2%	100.0%
		Net income	50.4%	92.1%	104.6%	132.1%	130.0%	115.4%	100.0%
answer 2		Comparative Balance Sheets
		December 31, 2007–2011
		($ thousands)	6183	5573	4900	3610	3465	3100	2500
		Assets
		Cash	67.4%	89.1%	92.0%	94.2%	97.8%	96.4%	100.0%
		Accounts receivable, net	233.2%	244.8%	221.7%	169.9%	149.7%	141.6%	100.0%
		Merchandise inventory	337.2%	245.5%	214.5%	180.7%	162.4%	137.9%	100.0%
		Other current assets	221.4%	200.0%	121.4%	217.9%	185.7%	189.3%	100.0%
		Long-term investments	0.0%	0.0%	0.0%	100.0%	100.0%	100.0%	100.0%
		Plant assets, net	258.1%	257.1%	224.9%	126.9%	131.1%	116.6%	100.0%
		Total assets	247.3%	222.9%	196.0%	144.4%	138.6%	124.0%	100.0%
		Liabilities and Equity
		Current liabilities	411.9%	346.3%	227.2%	188.9%	164.0%	155.0%	100.0%
		Long-term liabilities	306.3%	266.7%	259.5%	120.4%	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	128.3%	128.3%	128.3%	114.2%	114.2%	100.0%	100.0%
		Retained earnings	321.0%	290.7%	252.8%	204.5%	191.1%	143.5%	100.0%
		Total liabilities and equity	247.3%	222.9%	196.0%	144.4%	138.6%	124.0%	100.0%