Question
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
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 $ 4,694,020 $ 4,799,650 $ 4,974,360 $ 5,458,780 $ 5,782,770 Cash $ 89,152 $ 92,693 $ 88,372 $ 75,358 $ 67,903 Accounts receivable, net 402,319 419,357 451,275 502,016 576,549 Inventory 817,956 875,183 819,432 895,103 915,811 Total current assets $ 1,309,427 $ 1,387,233 $ 1,359,079 $ 1,472,477 $ 1,560,263 Current liabilities $ 314,306 $ 345,180 $ 324,396 $ 336,158 $ 406,960 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