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Selected data from the financial statements of Jones Hardware Company follows. 2019 2018 Accounts receivable $60,000 $38,000 Merchandise inventory 12,000 16,000 Total assets 450,000 380,000
Selected data from the financial statements of Jones Hardware Company follows. 2019 2018 Accounts receivable $60,000 $38,000 Merchandise inventory 12,000 16,000 Total assets 450,000 380,000 Net sales 380,000 270,000 Cost of goods sold 160,000 210,000 Required: 1. Calculate by how much accounts receivable, merchandise inventory, total assets, net sales, and cost of goods sold increased or decreased in dollar terms from 2018 to 2019. Accounts receivable $ Merchandise inventory Total assets Net sales $ Cost of goods sold 2. Indicate what happened from 2018 to 2019 to accounts receivable and merchandise inventory as a percentage of total assets (rounded to the nearest whole percent). Accounts receivable from % in 2018 to % in 2019. Merchandise inventory from % in 2018 to % in 2019. Indicate what happened from 2018 to 2019 to cost of goods sold as a percentage of net sales (rounded to the nearest whole percent). Cost of goods sold from % in 2018 to % in 2019
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