Data for the Most Recent Four Fiscal Years of Colt

question 20

Essay

Data for the most recent four fiscal years of Colt Corporation are given below:
$\begin{array}{lllll}&2017 & 2016 & 2015 & 2014 \\\text { Net Sales } & \$ 78,000 & 75,000 & \$ 67,000 & \$ 60,000 \\\text { Cost of goods sold } & 33,000 & 32,000 & 30,000 & 26,000 \\\text { Gross margin } & 45,000 & 43,000 & 37,000 & 34,000 \\\text { Operating expenses } & 25,000 & 22,000 & 19,000 & 14,000 \\\text { Net income } & 20,000 & 21,000 & 18,000 & 20,000\end{array}$ a_Prepare an analysis showing the trend percentages for the four-year period using 2014 as the base year.
b_What do the trend percentages indicate regarding Colt Corporation's income statement data?

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