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 Year 1 $ 4,610,370 $ 82, 276 405,136 801,266 $ 1,288,678 $ 303,896 Year 2 $ 4,769,480 $ 96,819 431,813 871,474 $ 1,400,106 $ 346,479 Year 3 3 5,004, 170 $ 92,394 443,906 819,786 $ 1,356,086 Year 4 $ 5,538.450 $ 76, 771 497,550 882, 444 $ 1,456,765 $ 334,686 Year 5 $ 5,743 $ 69, 565, 902.4 $ 1,537,1 9 31,639 $ 398,1 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 % % % % % % % % % % % % % % %6 % % % % % % % % A comparative income statement is given below for McKenzie Sales, Limited, of Toronto: Last Year $ 5,563,200 3,513,000 2,050, 200 McKenzie Sales, Limited Comparative Income Statement This Year Sales $ 7,320,000 Cost of goods sold 4,680,000 Gross margin 2,640,000 Selling and administrative expenses : Selling expenses 1,381,000 Administrative expenses 706,000 Total expenses 2,087,000 Net operating income 553,000 Interest expense 99,000 Net income before taxes $ 454,000 1,077,000 617,000 1,694,000 356,200 89,000 $ 267,200 Members of the company's board of directors are surprised to see that net income increased by only $186,800 when sales increased by $1.756.800 Required: 1. Express each year's income statement in common-size percentages. (Round your percentage answers to 1 decimal place (i.e.. 0.1234 should be entered as 12.3).) Sales Cost of goods sold Gross margin Selling and administrative expenses This Year 100.0% 63.3% 36.7 % Last Year 100.0 % 63.11% 36,9% 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 Year 1 $ 4,610,370 $ 82, 276 405,136 801,266 $ 1,288,678 $ 303,896 Year 2 $ 4,769,480 $ 96,819 431,813 871,474 $ 1,400,106 $ 346,479 Year 3 3 5,004, 170 $ 92,394 443,906 819,786 $ 1,356,086 Year 4 $ 5,538.450 $ 76, 771 497,550 882, 444 $ 1,456,765 $ 334,686 Year 5 $ 5,743 $ 69, 565, 902.4 $ 1,537,1 9 31,639 $ 398,1 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 % % % % % % % % % % % % % % %6 % % % % % % % % A comparative income statement is given below for McKenzie Sales, Limited, of Toronto: Last Year $ 5,563,200 3,513,000 2,050, 200 McKenzie Sales, Limited Comparative Income Statement This Year Sales $ 7,320,000 Cost of goods sold 4,680,000 Gross margin 2,640,000 Selling and administrative expenses : Selling expenses 1,381,000 Administrative expenses 706,000 Total expenses 2,087,000 Net operating income 553,000 Interest expense 99,000 Net income before taxes $ 454,000 1,077,000 617,000 1,694,000 356,200 89,000 $ 267,200 Members of the company's board of directors are surprised to see that net income increased by only $186,800 when sales increased by $1.756.800 Required: 1. Express each year's income statement in common-size percentages. (Round your percentage answers to 1 decimal place (i.e.. 0.1234 should be entered as 12.3).) Sales Cost of goods sold Gross margin Selling and administrative expenses This Year 100.0% 63.3% 36.7 % Last Year 100.0 % 63.11% 36,9%