For the following financial statement items,calculate trend percents using 2007 as the base year:
$$\begin{array} { | l | r | r | r | r | r | }
\hline & { 2011 } & { 2010 } & { 2009 } & { 2008 } & { 2007 } \
\hline \text { Sales } & \$ 1,195,400 & \$ 1,118,000 & \$ 1,049,000 & \$ 963,200 & \$ 860,000 \
\hline \text { Cost of sales } & 752,400 & 704,000 & 671,000 & 6 1 6 , 7 0 0& 559,000 \
\hline \text { Gross profit } & \$ 443,000 & \$ 414,000 & \$ 378,000 & \$ 346,500 & \$ 301,000 \
\hline
\end{array}$$

Question

For the following financial statement items,calculate trend percents using 2007 as the base year:
 $$\begin{array} { | l | r | r | r | r | r | } 
\hline &  { 2011 } &  { 2010 } & { 2009 } & { 2008 } & { 2007 } \
\hline \text { Sales } & \$ 1,195,400 & \$ 1,118,000 & \$ 1,049,000 & \$ 963,200 & \$ 860,000 \
\hline \text { Cost of sales } & 752,400 & 704,000 & 671,000 & 6 1 6 , 7 0 0& 559,000 \
\hline \text { Gross profit } & \$ 443,000 & \$ 414,000 & \$ 378,000 & \$ 346,500 & \$ 301,000 \
\hline
\end{array}$$

Quizplus · Accepted Answer

The Answer of For the following financial statement items,calculate trend percents using 2007 as the base year:
 $$\begin{array} { | l | r | r | r | r | r | } 
\hline &  { 2011 } &  { 2010 } & { 2009 } & { 2008 } & { 2007 } \
\hline \text { Sales } & \$ 1,195,400 & \$ 1,118,000 & \$ 1,049,000 & \$ 963,200 & \$ 860,000 \
\hline \text { Cost of sales } & 752,400 & 704,000 & 671,000 & 6 1 6 , 7 0 0& 559,000 \
\hline \text { Gross profit } & \$ 443,000 & \$ 414,000 & \$ 378,000 & \$ 346,500 & \$ 301,000 \
\hline
\end{array}$$

For the Following Financial Statement Items,calculate Trend Percents Using 2007