For the following financial statement items,calculate trend percentages using Year 1 as the base year:
$$\begin{array} { l r r r r r }
& \text { Year 5 } & \text { Year 4 } & \text { Year 3 } & \text { Year 2 } & \text { Year 1 } \
\text { Sales } & \$ 1,195,400 & \$ 1,118,000& \$ 1,049,000 & \$ 963,200 & \$ 860,000 \
\text { Cost of sales } & 752,400& 704,000& 671,000 & 616,700 & 559,000\
\text { Gross profit } & \$ 443,000 & \$ 414,000 & \$ 378,000 & \$ 346,500 & \$ 301,000
\end{array}$$

Question

For the following financial statement items,calculate trend percentages using Year 1 as the base year:
 $$\begin{array} { l r r r r r } 
& \text { Year 5 } & \text { Year 4 } & \text { Year 3 } & \text { Year 2 } & \text { Year 1 } \
\text { Sales } & \$ 1,195,400 & \$ 1,118,000& \$ 1,049,000 & \$ 963,200 & \$ 860,000 \
\text { Cost of sales } & 752,400& 704,000& 671,000 & 616,700 & 559,000\
\text { Gross profit } & \$ 443,000 & \$ 414,000 & \$ 378,000 & \$ 346,500 & \$ 301,000
\end{array}$$

Quizplus · Accepted Answer

The Answer of For the following financial statement items,calculate trend percentages using Year 1 as the base year:
 $$\begin{array} { l r r r r r } 
& \text { Year 5 } & \text { Year 4 } & \text { Year 3 } & \text { Year 2 } & \text { Year 1 } \
\text { Sales } & \$ 1,195,400 & \$ 1,118,000& \$ 1,049,000 & \$ 963,200 & \$ 860,000 \
\text { Cost of sales } & 752,400& 704,000& 671,000 & 616,700 & 559,000\
\text { Gross profit } & \$ 443,000 & \$ 414,000 & \$ 378,000 & \$ 346,500 & \$ 301,000
\end{array}$$

For the Following Financial Statement Items,calculate Trend Percentages Using Year