Compute trend percent for the following accounts using 2018 as the base year. For each of the three accounts, state whether the situation as revealed by the trend percent appears to be favorable or unfavorable. 2022 2021 2020 2019 2018 Sales $282,880 $270,800 $252,600 $234,560 $150,000 Cost of goods sold 128,200 122,080 115,280 106,440 67,000 Accounts receivable 18,100 17,300 16,400 15,200 9,000

Trend analysis is calculated by taking the individual item each year which is to be divided by the…

Answered: Compute trend percent for the following…

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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Compute trend percent for the following accounts using 2018 as the base year. For each of the three accounts, state whether the situation as revealed by the trend percent appears to be favorable or unfavorable.

	2022	2021	2020	2019	2018
Sales	$282,880	$270,800	$252,600	$234,560	$150,000
Cost of goods sold	128,200	122,080	115,280	106,440	67,000
Accounts receivable	18,100	17,300	16,400	15,200	9,000

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