Question
Rotorua Products, Limited, of New Zealand markets agricultural products for the burgeoning Asian consumer market. The companys current assets, current liabilities, and sales over the
Rotorua Products, Limited, 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 $ 4,504,030 $ 4,797,040 $ 5,102,650 $ 5,453,900 $ 5,694,870 Cash $ 85,314 $ 100,480 $ 90,678 $ 90,955 $ 66,096 Accounts receivable, net 418,835 434,676 440,539 497,467 578,816 Inventory 808,609 871,045 834,589 883,848 911,373 Total current assets $ 1,312,758 $ 1,406,201 $ 1,365,806 $ 1,472,270 $ 1,556,285 Current liabilities $ 305,143 $ 345,842 $ 337,326 $ 322,859 $ 401,921 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).)
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