Solution-Compute trend percents for the individual items of

Selected comparative financial statements of Cohorn Company follow:

COHORN COMPANY Comparative Income Statement ($000) For Years Ended December 31, 2000-2006
	2006	2005	2004	2003	2002	2001	2000
Sales	$1,594	$1,396	$1,270	$1,164	$1,086	$1,010	$828
Cost of goods sold	1146	932	802	702	652	610	486
Gross profit	448	464	468	462	434	400	342
Operating expenses	340	266	244	180	156	154	128
Net income	$108	$198	$224	$282	$278	$246	$214

COHORN COMPANY Comparative Balance Sheet ($000) December 31, 2000-2006
	2006	2005	2004	2003	2002	2001	2000
Assets
Cash	$68	$88	$92	$94	$98	$96	$99
Accounts receivable, net	480	504	456	350	308	292	206
Merchandise inventory	1,738	1,264	1,104	932	836	710	515
Other current assets	46	42	24	44	38	38	19
Long-term investments	0	0	0	136	136	136	136
Plant and equipment, net	2,120	2,114	1,852	1,044	1,078	960	825
Total assets	$4,452	$4,012	$3,528	$2,600	$2,494	$2,232	$1,800
Liabilities and Equity
Current liabilities	$1,120	$942	$618	$514	$446	$422	$272
Long-term liabilities	1,194	1,040	1,012	470	480	520	390
Common stock	1,000	1,000	1,000	840	840	640	640
Other contributed capital	250	250	250	180	180	160	160
Retained earnings	888	780	648	596	548	490	338
Total liabilities and equ	$4,452	$4,012	$3,528	$2,600	$2,494	$2,232	$1,800

Required:

a. Compute trend percents for the individual items of both statements using 2000 as the base year.

b. Analyze and comment on the financial statements and trend percents from part a.

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