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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):
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 $4,500,620 $4,869,340 Year 3 $4,993, 110 Year 4 $5,427,430 Year 5 $5,741,460 Sales $ $ $ $ Cash Accounts receivable, net Inventory 95,757 407,255 807,345 $ 107,037 423,652 867,194 96,770 434,394 817,164 82,667 511,879 889,744 67,545 564,513 914,026 Total current assets $1,310,357 $1,397,883 $1,348,328 $1,484,290 $1,546,084 Current liabilities $ 316,240 $ 340,323 $ 336,519 $ 332,303 $ 398,679 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 Inventory Total current assets Current liabilitiesStep by Step Solution
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