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Harrison Harrison
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6 years ago
Data for the most recent four fiscal years of Burleigh Falls Corp. are given below:

   2014   2013   2012   2011
Net sales   $83,000   $75,000   $67,000   $60,000
Cost of goods sold   34,000   32,000   30,000   26,000
Gross margin   $49,000   $43,000   $37,000   $34,000
Operating expenses   26,000   22,000   19,000   14,000
Net income   $23,000   $21,000   $18,000   $20,000

Required:
a. Prepare an analysis showing the trend percentages for the four-year period using 2011 as the                         base year.
b. What do the trend percentages indicate regarding Burleigh Falls Corp.'s income statement data?
Textbook 
Financial Accounting, Canadian Edition

Financial Accounting, Canadian Edition


Edition: 5th
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