For the Following Financial Statement Items,calculate Trend Percentages Using Year

Essay

For the following financial statement items,calculate trend percentages using Year 1 as the base year:
$$\begin{array} { l r r r r r } & \text { Year 5 } & \text { Year 4 } & \text { Year 3 } & \text { Year 2 } & \text { Year 1 } \\\text { Sales } & \$ 1,195,400 & \$ 1,118,000& \$ 1,049,000 & \$ 963,200 & \$ 860,000 \\\text { Cost of sales } & 752,400& 704,000& 671,000 & 616,700 & 559,000\\\text { Gross profit } & \$ 443,000 & \$ 414,000 & \$ 378,000 & \$ 346,500 & \$ 301,000\end{array}$$