For the following financial statement items, calculate trend percentages using 2016 as the base year:
$\begin{array}{|l|r|r|r|r|r|r|}
\hline &{2020} & {2019} & {2018} & {2017} & {2016} \
\hline \text { Sales.............. } & \$ 1,195,400 & \$ 1,118,000 & \$ 1,049,000 & \$ 963,200 & \$ 860,000 \
\hline \text { Cost of sales........... } & 752,400 & 704,000 & 671,000 & 616,700 & 559,000 \
\hline \text { Gross profit........... } & \$ 443,000 & \$ 414,000 & \$ 378,000 & \$ 346,500 & \$ 301,000\
\hline
\end{array}$

Question

For the following financial statement items, calculate trend percentages using 2016 as the base year:
 $\begin{array}{|l|r|r|r|r|r|r|} 
\hline &{2020} & {2019} & {2018} & {2017} & {2016} \
\hline \text { Sales.............. } & \$ 1,195,400 & \$ 1,118,000 & \$ 1,049,000 & \$ 963,200 & \$ 860,000 \
\hline \text { Cost of sales........... } & 752,400 & 704,000 & 671,000 & 616,700 & 559,000 \
\hline \text { Gross profit........... } & \$ 443,000 & \$ 414,000 & \$ 378,000 & \$ 346,500 & \$ 301,000\
\hline
\end{array}$

Quizplus · Accepted Answer

The Answer of For the following financial statement items, calculate trend percentages using 2016 as the base year:
 $\begin{array}{|l|r|r|r|r|r|r|} 
\hline &{2020} & {2019} & {2018} & {2017} & {2016} \
\hline \text { Sales.............. } & \$ 1,195,400 & \$ 1,118,000 & \$ 1,049,000 & \$ 963,200 & \$ 860,000 \
\hline \text { Cost of sales........... } & 752,400 & 704,000 & 671,000 & 616,700 & 559,000 \
\hline \text { Gross profit........... } & \$ 443,000 & \$ 414,000 & \$ 378,000 & \$ 346,500 & \$ 301,000\
\hline
\end{array}$

For the Following Financial Statement Items, Calculate Trend Percentages Using