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 $ 4,580,330 $ 4,832,030 $ 5,032,790 $ 5,471,690 $ 5,796,010 Cash $ 80,079 $ 100,670 $ 92,880 $ 84,679 $ 70,693 Accounts receivable, net 416,011 435,402 442,108 515,475 575,164 Inventory 805,035 872,689 822,355 892,740 906,378 Total current assets $ 1,301,125 $ 1,408,761 $ 1,357,343 $ 1,492,894 $ 1,552,235 Current liabilities $ 315,769 $ 338,362 $ 343,128 $ 328,917 $ 409,253 Required: 1. Express all of the asset, liability, and sales data in trend percentages. Use Year1 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