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.

Question

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.

Quizplus · Accepted Answer

The Answer of 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.

The Following Selected Amounts Were Extracted from the Financial Statements