For the following financial statement items,calculate trend percentages using 2016 as the base year:
$\begin{array}{|l|c|c|c|c|c|}
\hline&2020&2019&2018&2017&2016\
\hline \text { Sales. } & \$ 1,195,400 & \$ 1,118,000 & \$ 1,049,000 & \$ 963,200 & \$ 860,000 \
\hline \text { Cost of sales. } & 752,400 & 704,000 & 671,000 & 616,700 & 559,0 \
\hline \text {Gross profit } & \$ 443,000 & \$ 414,000 & \$ 378,000 & \$ 346,500 & \$ 30 \
\hline
\end{array}$

Question

For the following financial statement items,calculate trend percentages using 2016 as the base year:
 $\begin{array}{|l|c|c|c|c|c|}
\hline&2020&2019&2018&2017&2016\
\hline \text { Sales. } & \$ 1,195,400 & \$ 1,118,000 & \$ 1,049,000 & \$ 963,200 & \$ 860,000 \
\hline \text { Cost of sales. } & 752,400 & 704,000 & 671,000 & 616,700 & 559,0 \
\hline \text {Gross profit } & \$ 443,000 & \$ 414,000 & \$ 378,000 & \$ 346,500 & \$ 30 \
\hline
\end{array}$

Quizplus · Accepted Answer

The Answer of For the following financial statement items,calculate trend percentages using 2016 as the base year:
 $\begin{array}{|l|c|c|c|c|c|}
\hline&2020&2019&2018&2017&2016\
\hline \text { Sales. } & \$ 1,195,400 & \$ 1,118,000 & \$ 1,049,000 & \$ 963,200 & \$ 860,000 \
\hline \text { Cost of sales. } & 752,400 & 704,000 & 671,000 & 616,700 & 559,0 \
\hline \text {Gross profit } & \$ 443,000 & \$ 414,000 & \$ 378,000 & \$ 346,500 & \$ 30 \
\hline
\end{array}$

For the Following Financial Statement Items,calculate Trend Percentages Using 2016