Question
Rotorua Products, Ltd., of New Zealand markets agricultural products for the burgeoning Asian consumer market. The companys current assets, current liabilities, and sales have been
Rotorua Products, Ltd., of New Zealand markets agricultural products for the burgeoning Asian consumer market. The companys current assets, current liabilities, and sales have been reported as follows over the last five years (Year 5 is the most recent year): Year 1 Year 2 Year 3 Year 4 Year 5 Sales $ 4,542,490 $ 4,754,260 $ 5,057,690 $ 5,528,770 $ 5,765,480 Cash $ 84,395 $ 93,115 $ 94,225 $ 86,818 $ 75,666 Accounts receivable, net 406,384 420,759 438,878 505,641 569,430 Inventory 803,329 882,903 832,031 891,784 897,473 Total current assets $ 1,294,108 $ 1,396,777 $ 1,365,134 $ 1,484,243 $ 1,542,569 Current liabilities $ 314,539 $ 334,375 $ 331,604 $ 335,886 $ 395,053 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).)
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