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Compute trend percentages for the following items taken from the financial statements of Lopez Plumbing over a five-year period. Treat 2014 as the base year. State whether the trends are favor- able or unfavorable. (Dollar amounts are stated in thousands.) 2018 2017 2016 2015 2014 Sales .. $81,400 $74,000 $61,500 $59,000 $50,000 Cost of goods sold 58,500 48,000 40,500 37,000 30,000

Compute trend percentages for the following items taken from the financial statements of Lopez Plumbing over a five-year period. Treat 2014 as the base year. State whether the trends are favor- able or unfavorable. (Dollar amounts are stated in thousands.) 2018 2017 2016 2015 2014 Sales .. $81,400 $74,000 $61,500 $59,000 $50,000 Cost of goods sold 58,500 48,000 40,500 37,000 30,000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Compute trend percentages for the following items taken from the financial statements of Lopez Plumbing over a five-year period. Treat 2014 as the base year. State whether the trends are favor- able or unfavorable. (Dollar amounts are stated in thousands.) 2018 2017 2016 2015 2014 $81,400 $74,000 $61,500 $59,000 $50,000 30,000 Sales Cost of goods sold 58,500 48,000 40,500 37,000 pronrietorshin for the two
Transcribed Image Text:Compute trend percentages for the following items taken from the financial statements of Lopez Plumbing over a five-year period. Treat 2014 as the base year. State whether the trends are favor- able or unfavorable. (Dollar amounts are stated in thousands.) 2018 2017 2016 2015 2014 $81,400 $74,000 $61,500 $59,000 $50,000 30,000 Sales Cost of goods sold 58,500 48,000 40,500 37,000 pronrietorshin for the two
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