20212020201920182017$ 394,032199,46619,071$ 262,688132,89415,394$ 205,225$ 150,34876,7748,780$ 112,20056,100SalesCost of goods soldAccounts receivable106,01314,0587,708Compute trend percents for the above accounts, using 2017 as the base year. For each of the three accounts, state whether thesituation as revealed by the trend percents appears to be favorable or unfavorable.Trend Percent for Net Sales:Numerator:Denominator:Trend percent2021:%2020:%2019:%%3D2018:%=2017:%Is the trend percent for Net Sales favorable or unfavorable?Trend Percent for Cost of Goods Sold:Numerator:Denominator:Trend percent%3D2021:%2020:%2019:%%3D2018:%=2017:%3DIs the trend percent for Cost of Goods Sold favorable or unfavorable?Trend Percent for Accounts Receivable:Numerator:Denominator:Trend percent%3D2021:%2020:%%3D2019:%=2018:%2017:%%3DIs the trend percent for Accounts Receivable favorable or unfavorable?IIIIIL ||II

The net sales are the revenue that is presented in the income statement of the company. The trend is…

Answered: 2021 2020 2019 2018 2017 $ 394,032…

2021 2020 2019 2018 2017 $ 394,032 199,466 19,071 $ 262,688 132,894 15,394 $ 205,225 106,013 14,058 $ 150,348 76,774 8,780 $ 112,200 56,100 7,708 Sales Cost of goods sold Accounts receivable

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

2021
2020
2019
2018
2017
$ 394,032
199,466
19,071
$ 262,688
132,894
15,394
$ 205,225
$ 150,348
76,774
8,780
$ 112,200
56,100
Sales
Cost of goods sold
Accounts receivable
106,013
14,058
7,708
Compute trend percents for the above accounts, using 2017 as the base year. For each of the three accounts, state whether the
situation as revealed by the trend percents appears to be favorable or unfavorable.
Trend Percent for Net Sales:
Numerator:
Denominator:
Trend percent
2021:
%
2020:
%
2019:
%
%3D
2018:
%
=
2017:
%
Is the trend percent for Net Sales favorable or unfavorable?
Trend Percent for Cost of Goods Sold:
Numerator:
Denominator:
Trend percent
%3D
2021:
%
2020:
%
2019:
%
%3D
2018:
%
=
2017:
%3D
Is the trend percent for Cost of Goods Sold favorable or unfavorable?
Trend Percent for Accounts Receivable:
Numerator:
Denominator:
Trend percent
%3D
2021:
%
2020:
%
%3D
2019:
%
=
2018:
%
2017:
%
%3D
Is the trend percent for Accounts Receivable favorable or unfavorable?
II
II
IL ||
II

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