The Following Selected Amounts Were Extracted from the Financial Statements

question 91

Essay

The following selected amounts were extracted from the financial statements of Flamingo Corporation.
$\begin{array}{|l|l|l|l|l|}\hline&Year 4&Year 3&Year 2&Year 1\\\hline &&&\\\hline \text { Net sales } & \$ 175,000 & \$ 170,000 & \$ 165,000 & \$ 150,000 \\\hline \text { Cost of goods sold } & 109,000 & 104,500 & 100,500 & \$ 3,000 \\\hline \text { Grossmargin } & 66,000 & 65,500 & 64,500 & \$ 7,000 \\\hline &&&\end{array}$ 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.

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Definitions:

Autonomous Morality

The stage in moral development when individuals base their moral judgments on principles that transcend societal and parental rules.

Heteronomous Morality

A stage of moral development where individuals’ understanding of morality is based on external authorities and rules.

Preconventional Moral Reasoning

The earliest stage in Kohlberg's theory of moral development, where moral understanding is based on rewards, punishments, and the power of authority figures.

Conventional Moral Reasoning

A stage in moral development where individuals make decisions based on societal rules and laws.