Question

Selected comparative financial statements of Haroun Company follow.

Comparative Balance Sheets
December 31, 2019–2013
($ thousands)	2019			2018			2017			2016			2015			2014			2013
Assets
Cash	$	160		$	211		$	219		$	224		$	232		$	229		$	237
Accounts receivable, net		1,146			1,204			1,090			836			736			697			492
Merchandise inventory		4,147			3,019			2,638			2,223			1,997			1,696			1,230
Other current assets		106			96			59			106			89			91			47
Long-term investments		0			0			0			327			327			327			327
Plant assets, net		5,075			5,055			4,422			2,493			2,579			2,292			1,967
Total assets	$	10,634		$	9,585		$	8,428		$	6,209		$	5,960		$	5,332		$	4,300
Liabilities and Equity
Current liabilities	$	2,673		$	2,247		$	1,475		$	1,227		$	1,064		$	1,007		$	649
Long-term liabilities		2,857			2,488			2,421			1,124			1,149			1,244			933
Common stock		1,935			1,935			1,935			1,720			1,720			1,505			1,505
Other paid-in capital		484			484			484			430			430			376			376
Retained earnings		2,685			2,431			2,113			1,708			1,597			1,200			837
Total liabilities and equity	$	10,634		$	9,585		$	8,428		$	6,209		$	5,960		$	5,332		$	4,300

Required:
2. Refer to the results from part 1. (a) Did sales grow steadily over this period? (b) Did net income as a percent of sales grow over the past four years? (c) Did inventory increase over this period?

HAROUN COMPANY Balance Sheet Trends December 31, 2019–2013 2019 2018 2017 2016 2015 2014 2013 Assets Cash % % % % % % 100.0 % Accounts receivable, net 100.0 Merchandise inventory 100.0 Other current assets 100.0 Long-term investments 100.0 Plant assets, net 100.0 Total assets % % % % % % 100.0 % Liabilities and Equity Current liabilities % % % % % % 100.0 % Long-term liabilities 100.0 Common stock 100.0 Other paid-in capital 100.0 Retained earnings 100.0 Total liabilities & equity % % % % % % 100.0 %

Answer 1