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Comparative Statements for Kool Corporation Are Shown Below Calculate Trend Percentages for All Income Statement Amounts Shown and

Question 122

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Comparative statements for Kool Corporation are shown below:
 KOOL CORPORATION Comparative Income Statement For the Years Ended December 31201420132012 Sales $14,800$13,229$13,994 Cost of goods sold 8,2258,6618,375 Gross profit 6,5754,5685,619 Operating expenses 3,6643,5763,487 Operating income $2.911$992$2.132\begin{array}{c} \text { KOOL CORPORATION}\\ \text { Comparative Income Statement}\\ \text { For the Years Ended December 31}\\ \begin{array}{|l|r|r|r|}\hline&2014&2013&2012\\\hline \text { Sales } & \$ 14,800 & \$ 13,229 & \$ 13,994 \\\hline \text { Cost of goods sold } & 8,225 & 8,661 & 8,375 \\\hline \text { Gross profit } & 6,575 & 4,568 & 5,619 \\\hline \text { Operating expenses } & \underline{3,664} & \underline{3,576} & \underline{3,487} \\\hline \text { Operating income } & \$ 2.911 & \$ 992 & \$ 2.132\\\hline\end{array}\end{array}

Calculate trend percentages for all income statement amounts shown and comment on the results.Use 2012 as the base year.

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Comment: During 2013, sales declined, co...

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