Compute increases (decreases) in percents for both Years six and seven by entering all the missing data in the table below. Examine and interpret any significant results revealed from this trend analysis.
|
YEAR 7
|
YEAR 6
|
YEAR 5
|
|
Statement Item
|
Index No.
|
Change in Percent
|
Index No.
|
Change in
Percent
|
Index No.
|
|
Net sales
|
_____
|
29%
|
100
|
_____%
|
90
|
|
Cost of goods sold
|
139
|
_____
|
100
|
_____
|
85
|
|
Gross profit
|
126
|
_____
|
100
|
_____
|
80
|
|
Operating expenses
|
_____
|
20
|
100
|
_____
|
65
|
|
Income before tax
|
_____
|
14
|
100
|
_____
|
70
|
|
Net income
|
129
|
_____
|
100
|
_____
|