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

question 261

Essay

For the following financial statement items,calculate trend percentages using 2016 as the base year:
20202019201820172016 Sales. $1,195,400$1,118,000$1,049,000$963,200$860,000 Cost of sales. 752,400704,000671,000616,700559,0Gross profit $443,000$414,000$378,000$346,500$30\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}

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