In: Accounting
Innovative Components, Inc. reported the following income statement data for 20132017.
2017 
2016 
2015 
2014 
2013 

Net Sales 
$3,144.6 
$2,993.1 
$2,790.5 
$2,654.0 
$2,478.9 
What would be an appropriate sales growth rate based on the historical data?
Growth Rate in the Year 2014 with respect to 2013
Net Sales During the period of 2013 is $2478.90
Net Sales During the period of 2014 is $2654.00
Increase in sales volume during the year is = $2654  $2478.90 =$175.1
Sales growth for the year 2014 is =($175.1/$2478.90)X100=7.06%
Growth Rate in the Year 2015 with respect to 2014
Net Sales During the period of 2014 is $2654.00
Net Sales During the period of 2015 is $2790.5
Increase in sales volume during the year is = $2790.50  $2654 =$136.50
Sales growth for the year 2014 is =($136.5/$2654)X100=5.14%
Growth Rate in the Year 2016 with respect to 2015
Net Sales During the period of 2015 is $2790.50
Net Sales During the period of 2016 is $2993.1
Increase in sales volume during the year is = $2993.1 $2790.50 =$202.6%
Sales growth for the year 2014 is =($202.6/$2790.50)X100=7.26%
Growth Rate in the Year 2017 with respect to 2016
Net Sales During the period of 2016 is $2993.1
Net Sales During the period of 2017 is $3144.6
Increase in sales volume during the year is = $3144.6 $2993.1 =$151.5%
Sales growth for the year 2014 is =($151.5/$2993.1)X100=5.06%
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