Question

The following information is for Tide Corporation:

($ thousands) 2017 2016
Net sales $801,810 $453,000
Cost of goods sold 392,887 134,088

Determine the 2016 and 2017 trend percents for net sales using 2016 as the base year.

Answer 1

2016 trend for Net sales;

= 2016 net sales/ 2016 net sales * 100

= 453,000/453,000 * 100

= 100%

2017 trend percent for Net sales

= 2017 net sales / 2016 net sales * 100

= 801,810/453,000 * 100

= 177%