Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Exercise 14-7 (Algo) Trend Percentages [LO14-1] Rotorua Products, Limited, of New Zealand markets agricultural products for the burgeoning Asian consumer market. The company's current
Exercise 14-7 (Algo) Trend Percentages [LO14-1] Rotorua Products, Limited, of New Zealand markets agricultural products for the burgeoning Asian consumer market. The company's current assets, current liabilities, and sales over the last five years (Year 5 is the most recent year) are as follows: Sales Cash Accounts receivable, net Inventory Total current assets Current liabilities Required: Year 1 $ 4,628,860 $ 85,383 403,046 800,205 $1,288,634 $311,766 Year 2 $ 4,884,2801 $ 102,869 416,225 874,523 $ 1,393,617 $339,501 Year 3 $ 5,016,580 $ 85,547 445,228 831,612 $ 1,362,387 $331,624 Year 4 $ 5,573,170 $ 85,566 512,606 887,681 $1,486,053 $327,291 Year 5 $ 5,692,840 $ 74,804 570,708 897,74 $ 1,543,25 $ 392,651 1. Express all of the asset, liability, and sales data in trend percentages. Use Year 1 as the base year. (Round your percentage answers to 1 decimal place (i.e., 0.1234 should be entered as 12.3).) Year 1 Year 2 Year 3 Year 41 Year 5 Sales: % % % % Current assets: Cash % % % % % Accounts receivable, net % % % % %6 Inventory %6 % % % % Total current assets % % % 96 % Current liabilities % % % % %
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started