Response to the following problem:
Consider the following information of Jones Corporation over four years:
|
|
2019
|
2018
|
2017
|
2016
|
|
Sales
|
$10,000
|
$9,000
|
$ ?
|
$7,000
|
|
Cost of goods sold
|
?
|
6,840
|
6,160
|
?
|
|
Gross profit
|
2,500
|
?
|
1,840
|
?
|
|
Gross profit percentage
|
?
|
?
|
?
|
22%
|
Required:
1. Calculate the missing amounts for each year.
2. What does this information indicate about the company?