Comparative Statements for Warmer Corporation Are Shown Below Calculate Trend Percentages for All Income Statement Amounts Shown and Corporation}\\
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question 64

Essay

Comparative statements for Warmer Corporation are shown below:
$\begin{array}{c}\text {Warmer Corporation}\\\text {Comparative Income Statements}\\\text {For the years ended December 31}\\\begin{array}{|l|r|r|r|}\hline&2018&2017&2016\\\hline \text { Sales } & \$ 14,800 & \$ 13,229 & \$ 13,994 \\\hline \text { Cost of goods sold } & 8,22 & 8,661 & 8,37 \\\hline \text { Gross profit } & 6,57 & 4,568 & 5,619 \\\hline \text { Operating expenses } & 3,664 & 3,576 & 3,487 \\\hline \text { Operating income } & \$ 2,911 & \$ 992 & \$ 2,132 \\\hline\end{array}\end{array}$
Calculate trend percentages for all income statement amounts shown and comment on the results.Use 2016 as the base year.Comment on the results.

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Definitions:

Vertical Integration

A strategy where a company expands its operations into different stages of production within its industry, from raw materials to final product sales.

Gold Mine

A gold mine is a site used for extraction of gold from the earth, and metaphorically, it refers to a rich or valuable resource that promises significant returns or advantages.

Hierarchical

Pertaining to a system or organization where individuals or entities are ranked according to levels of importance or authority.

Senior Levels

Upper echelons in an organization comprising top management and executives who are responsible for making strategic decisions.