### Compute trend percentages for each item for 2007

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##### Reference no: EM13215148

Net sales, net income, and total assets for Gene Blue Clothing Emporium for a four-year period follow:

(In Thousands) 2010 2009 2008 2007
Net Sales \$381 \$357 \$321 \$331
Net income 31 23 16 24
Ending total assets 193 177 165 148

1. Compute trend percentages for each item for 2007 through 2010. Use 2007 as the base year.

2. Compute the rate of return on net sales for 2008 through 2010, rounding to three decimal places. In this industry, rates of 6% are average, rates above 8% are considered good and rates above 10% are viewed as outstanding.

3. How does Gene Blue's return on net sales compare with the industry?

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