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Schmidt Inc. markets agricultural products for the burgeoning Asian consumer market. The company's current assets, current liabilities, and sales over the last five years (Year
Schmidt Inc. 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 Year 2 Year 3 Year 4 Year 5 $ 4,665,510 $ 4,875,870 $ 5,103,880 $ 5,591,680 $ 5,740,650 $ 89,868 $ 95, 734 $ 84,692 $ 86, 433 $ 71,340 414, 375 419,640 433, 382 515,945 562,882 807, 157 883,082 828,682 886,080 903,706 $ 1,311,400 $ 1,398,456 $ 1,346,756 $ 1,488, 458 $ 1,537,928 $ 318,172 $ 330,552 $ 325,873 $ 337, 470 $ 408,712 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 % % % % % % % % % % % % % % % % % % % % % % % % % %
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