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XYZ Corporation Balance Sheet Vertical Trend Percentages (%) 2016 2015 2014 2016 2015 2014 Cash $16,000 $14,000 $12,000 Accounts receivable, net 26,000 24,000 21.000 Prepaid expenses 704,000 566,000 479,000 Merchandise inventory 409,000 385,000 321,000 Plant assets, net 206,000 182,000 147,000 Total assets $1,361,000 $1,171,000 $980,000 Accounts payable $440,000 $409,000 $359,000 Long-term notes payable 338,000 299,000 245,000 Share capital (100,000 issued) 3,000 3,000 3,000 Retained earnings 580,000 460,000 373,000 Total liabilities and equity $1,361,000 $1,171,000 $980,000 b) Assuming all other things are constant, indicate whether the vertical trend between sales and accounts receivable is favourable or unfavourable The vertical trend is (select one) 1 s (select one). (select one) favourable unfavourable XYZ Corporation Balance Sheet Vertical Trend Percentages (%) 2016 2015 2014 2016 2015 2014 Cash $16,000 $14,000 $12,000 Accounts receivable, net 26,000 24,000 21.000 Prepaid expenses 704,000 566,000 479,000 Merchandise inventory 409,000 385,000 321,000 Plant assets, net 206,000 182,000 147,000 Total assets $1,361,000 $1,171,000 $980,000 Accounts payable $440,000 $409,000 $359,000 Long-term notes payable 338,000 299,000 245,000 Share capital (100,000 issued) 3,000 3,000 3,000 Retained earnings 580,000 460,000 373,000 Total liabilities and equity $1,361,000 $1,171,000 $980,000 b) Assuming all other things are constant, indicate whether the vertical trend between sales and accounts receivable is favourable or unfavourable The vertical trend is (select one) 1 s (select one). (select one) favourable unfavourable