The following items were taken from the financial statements of Grouper Manufacturing, Inc. over a three-year period: Item Net Sales Cost of Goods Sold Gross Profit Item Net Sales Cost of Goods Sold 2026 $289,280 $271,360 198,400 $72,960 Gross Profit 210,240 $79,040 2025 Using horizontal analysis and 2024 as the base year, compute the trend percentages for net sales, cost of goods sold, and gross pr (Round answers to O decimal places, e.g. 111%.) 2026 $256,000 % 2024 -% % 180,000 $76,000 2025 % % % 2024 % % %
The following items were taken from the financial statements of Grouper Manufacturing, Inc. over a three-year period: Item Net Sales Cost of Goods Sold Gross Profit Item Net Sales Cost of Goods Sold 2026 $289,280 $271,360 198,400 $72,960 Gross Profit 210,240 $79,040 2025 Using horizontal analysis and 2024 as the base year, compute the trend percentages for net sales, cost of goods sold, and gross pr (Round answers to O decimal places, e.g. 111%.) 2026 $256,000 % 2024 -% % 180,000 $76,000 2025 % % % 2024 % % %
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:The following items were taken from the financial statements of Grouper Manufacturing, Inc. over a three-year period:
Item
Net Sales
Cost of Goods Sold
Gross Profit
Item
Net Sales
Cost of Goods Sold
2026
Gross Profit
$289,280
210,240
2025
$271,360
Using horizontal analysis and 2024 as the base year, compute the trend percentages for net sales, cost of goods sold, and gross profit.
(Round answers to O decimal places, e.g. 111%.)
198,400
$79,040 $72,960
2026
2024
$256,000
180,000
$76,000
%
-%
%
2025
%
%
%
2024
%
%
%
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