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Question
Comparative statements for Kool Corporation are shown below:
| KOOL CORPORATION Comparative Income Statement For the Years Ended December 31 | |||
| 2014 | 2013 | 2012 | |
| Sales | $14,800 | $13,229 | $13,994 |
| Cost of goods sold | 8,225 | 8,661 | 8,375 |
| Gross profit | 6,575 | 4,568 | 5,619 |
| Operating expenses | 3,664 | 3,576 | 3,487 |
| Operating income | $ 2,911 | $ 992 | $ 2,132 |
Calculate trend percentages for all income statement amounts shown and comment on the results. Use 2012 as the base year.
Answer
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