Comparative Statements for Warmer Corporation Are Shown Below:
Warmer Corporation

question 178

Essay

Comparative statements for Warmer Corporation are shown below:
Warmer Corporation Comparative Income Statements For the years ended December 31
$\begin{array}{|l|r|r|r|}\hline&2018&2017&2016\\\hline \text { Sales } & \$ 14,800 & \$ 13,229 & \$ 13,994 \\\hline \text { Cost of goods sold } & 8,225 & 8,661 & 8,375 \\\hline \text { Gross profit } & 6,575 & 4,568 & 5,619 \\\hline \text { Operating expenses } & 3,664 & 3,576 & 3,487 \\\hline \text { Operating income } & \$ 2,911 & \$ 992 & \$ 2,132\end{array}$ 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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