Compute increases (decreases) in percents for both Years 6 and 7 by entering all the missing data in the table below. Analyze and interpret any significant results revealed from this trend analysis.
|
YEAR 7
|
YEAR 6
|
YEAR 5
|
|
Statement Item
|
Index No.
|
Change in Percent
|
Index No.
|
Change in
Percent
|
Index No.
|
|
Net sales
|
_____
|
29%
|
100
|
_____%
|
90
|
|
Cost of goods sold
|
139
|
_____
|
100
|
_____
|
85
|
|
Gross profit
|
126
|
_____
|
100
|
_____
|
80
|
|
Operating expenses
|
_____
|
20
|
100
|
_____
|
65
|
|
Income before tax
|
_____
|
14
|
100
|
_____
|
70
|
|
Net income
|
129
|
_____
|
100
|
_____
|