The Following Selected Amounts Were Extracted from the Financial Statements

question 155

Essay

The following selected amounts were extracted from the financial statements of Flamingo Corporation.
$\begin{array}{lrrrr} & \text { Year 4 } & \text { Year 3 } & \text { Year 2 } & \text { Year 1 } \\\text { Net sales }& \$ 175,000 & \$ 170,000 & \$ 165,000 & \$ 150,000 \\\text { Cost of goods sold } & 109,000 & 104,500 & 100,500 & 93,000 \\ \text { Gross margin }&66,000 & 65,500 & 64,500 & 57,000\end{array}$
Prepare a trend analysis for net sales,cost of goods sold,and gross margin.(Round answers to the nearest tenth of 1 percent.)Use Year 1 as the base year.