Compute trend percentages for the following items taken from the financial statements of Lopez Plumbing over a five-year period. Treat 2014 as the base year. State whether the trends are favor- able or unfavorable. (Dollar amounts are stated in thousands.) 2018 2017 2016 2015 2014 Sales .. $81,400 $74,000 $61,500 $59,000 $50,000 Cost of goods sold 58,500 48,000 40,500 37,000 30,000

Compute trend percentages for the following items taken from the financial statements of Lopez Plumbing over a five-year period. Treat 2014 as the base year. State whether the trends are favor- able or unfavorable. (Dollar amounts are stated in thousands.) 2018 2017 2016 2015 2014 Sales .. $81,400 $74,000 $61,500 $59,000 $50,000 Cost of goods sold 58,500 48,000 40,500 37,000 30,000

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter16: Financial Statement Analysis

Section: Chapter Questions

Problem 1PA

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