Indicate the effect of debit or credit on the following accounts, and their normal balances.

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Chapter 3, Problem 4BE

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Indicate the effect of debit or credit on the following accounts, and their normal balances.

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HAROUN COMPANY Comparative Income Statements For Years Ended December 31, 2021-2015 ($ thousands) Sales 2021 $ 1,659 2020 $ 1,453 2019 $ 1,322 2018 $ 1,212 2017 2016 2015 $ 1,131 $ 1,052 $ 862 Cost of goods sold Gross profit Operating expenses 1,193 466 356 971 835 731 679 635 506 482 487 481 452 417 356 278 255 188 163 161 134 Net income $ 110 $ 204 $ 232 $ 293 $ 289 $ 256 $ 222 HAROUN COMPANY Comparative Year-End Balance Sheets December 31, 2021-2015 ($ thousands) Assets Cash Accounts receivable, net Merchandise inventory Other current assets Long-term investments Plant assets, net Total assets Liabilities and Equity 2021 2020 2019 2018 2017 2016 2015 $ 104 746 $ 137 2,700 784 1,966 $ 143 710 1,718 $ 146 544 1,447 $ 151 479 1,300 $ 149 454 1,104 $ 154 320 801 69 62 38 69 58 59 31 0 Ө 0 3,305 3,292 2,879 $ 6,924 $ 6,241 $ 5,488 213 1,624 $ 4,043 213 1,680 213 213 1,493 1,281 $ 3,881 $ 3,472 $ 2,800 Current liabilities Long-term liabilities 1,742 1,862 $ 1,465 1,622 $ 961 1,578 Common…