Venus Clothing Company specializes in selling apparel for special occasions. In 2018 and 2019, Venus' account balances were as follows:
___________________________________ 2019 ___________________ 2018
Accounts receivable ........................ $ 45,000 ........................ $ 32,000
Merchandise inventory ....................... 9,000 ............................. 11,000
Total assets .................................. 375,000 ........................... 340,000
Net sales ..................................... 330,000 .......................... 260,000
Cost of goods sold ......................... 145,000 .......................... 185,000
Required:
1. Calculate the change in each of the Venus' accounts from 2018 to 2019.
2. Indicate what happened from 2018 to 2019 to accounts receivable and merchandise inventory as a percentage of total assets. Indicate what happened from 2018 to 2019 to cost of goods sold as a percentage of net sales?