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Exercise 14-7 Trend Percentages [LO14-1] Rotorua Products, Ltd., of New Zealand markets agricultural products for the burgeoning Asian consumer market. The companys current assets, current

Exercise 14-7 Trend Percentages [LO14-1]

Rotorua Products, Ltd., of New Zealand markets agricultural products for the burgeoning Asian consumer market. The companys current assets, current liabilities, and sales over the last five years (Year 5 is the most recent year) are as follows:

Year 1 Year 2 Year 3 Year 4 Year 5
Sales $ 4,525,340 $ 4,894,120 $ 4,996,240 $ 5,574,370 $ 5,757,370
Cash $ 94,703 $ 96,927 $ 85,314 $ 85,441 $ 67,595
Accounts receivable, net 411,827 427,154 449,393 507,269 566,487
Inventory 801,849 865,201 823,211 892,383 900,154
Total current assets $ 1,308,379 $ 1,389,282 $ 1,357,918 $ 1,485,093 $ 1,534,236
Current liabilities $ 314,752 $ 348,403 $ 330,063 $ 330,810 $ 399,140

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).)

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