On december 1, 20x5, east co. purchased a tract of land as a factory site for $300,000. the old building on the property was razed and salvaged materials resulting from demolition were sold. additional costs incurred and salvage proceeds realized during december 20x5 were as follows:

Use the following selected information from wheeler, llc to determine the 2017 and 2016 trend percentages for cost of goods sold using 2016 as the base. 2017 2016 net sales $ 277,700 $ 231,700 cost of goods sold 151,600 129,890 operating expenses 54,940 52,940 net earnings 28,320 20,120