3. Assume the following cost of goods sold data for a company: 2015 $1,300,000 2014 1,200,000 2013 1,000,000 If 2013 is the base year, what is the percentage increase in cost of goods sold from 2013 to 2015? a. 130% b. 30% C. 70% d. 20% In a common size financial statement, which of the following is given a percentage of 100 percent? a. Total liabilities b. Net income C. Total assets d. Cost of goods sold A high accounts receivable turnover indicates 5. a. customers are making payments quickly. b. a large portion of the company's sales are on credit. C. many customers are not paying their receivables. d. the company's sales have increased. 6.. Hickory Hills Pro Shop had a balance in the Accounts Receivable account of $800,000 at the beginning of the year and a balance of $900,000 at the end of the year. Net credit sales during the year amounted to $7,310,000. The average collection period of the receivables in terms of days was a. 44 days. b. 42.4 days. c. 365 days. d. 41 days