1. elected data from the financial statements of Bloom's Garden Centre is provided below.

   	2018	2017
   Accounts receivable	$22 000	$56 000
   Inventory	50 000	17 000
   Total assets	420 000	360 000
   Net sales	380 000	270 000
   Cost of goods sold	170 000	220 000

   Which of the following would result from a horizontal analysis of Bloom's statement of financial position?

   		Accounts receivable is four times smaller than inventory in 2018
   		Accounts receivable decreased $34 000 or 60.71% during 2018
   		Accounts receivable decreased $34 000 or 52.14% during 2018
   		The accounts receivable turnover ratio is 0.76 in 2018