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The comparative income statements of Company follow. Calculate trend percents for all components
of the income statements using 2022 as the base year.
Each formula must include the ROUND function, rounding all percents to 2 decimal places. (XXX.XX%)
Company
Comparative Income Statements
For Years Ended December 31, 2026-2022
2026
2025
2024
2023
2022
Sales
$50,000
$45,000
$42,000
$36,000
$31,000
Cost of goods sold
29,000
28,000
22,000
22,000
20,000
Gross profit
21,000
17,000
20,000
14,000
11,000
Operating expenses
12,000
11,000
11,000
8,000
7,000
Net income
$9,000
$6,000
$9,000
$6,000
$4,000
2026
2025
2024
2023
2022
Sales
Cost of goods sold
Gross profit
Operating expenses
Net income