Answered step by step
Verified Expert Solution
Link Copied!

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 assets,

image text in transcribed

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: Year 2 Year 3 Year 4 Year 5 $ 5,820,300 Sales $ 5,072, 150 $ 5,521,960 Cash Year 1 $ 4,663,130 $ 97,834 409,286 817,905 $ 4,850,360 $ 100,485 428,625 876, 661 Accounts receivable, net $ 89,827 443,805 829,294 $ 77,191 496,989 895,241 $ 79,076 576,111 902,871 Inventory Total current assets $ 1,325,025 $ 1,558,058 $ 1,405,771 $ 345, 126 $ 1,362,926 $ 324,051 $ 1,469, 421 $ 332,722 Current liabilities $ 307,130 $ 405,196 Required: 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 4 Year 5 Sales % Current assets: Cash % Accounts receivable, net % Inventory % Total current assets % Current liabilities % % % % % % % % % % % % % % % % % % % % % % % % %

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Security Risk Handbook Assess Survey Audit

Authors: Charles Swanson

1st Edition

1032030356, 978-1032030357

More Books

Students also viewed these Accounting questions