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The Following Items Were Taken from the Financial Statements of Henager

Question 171

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The following items were taken from the financial statements of Henager Inc. over a three-year period:  Item 201720162015textNetSales$355,000$340,000$300,000 Cost of Goods Sold 214,000202,000186,000 Gross Profit $141,000$138,000$114,000\begin{array}{lccc}\underline{\text { Item }}&\underline{2017}&\underline{2016}&\underline{2015}\\\\text { Net Sales }&\$355,000&\$340,000&\$300,000 \\\text { Cost of Goods Sold } &\underline{214,000}&\underline{202,000}&\underline{186,000}\\\text { Gross Profit } &\underline{\$ 141,000} &\underline{\$138,000}&\underline{\$114,000}\\\end{array} Instructions
Compute the following for each of the above time periods.
a. The amount and percentage change from 2015 to 2016.
b. The amount and percentage change from 2016 to 2017.

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