The following data are taken from the comparative balance sheet prepared for Elison Company:

Sales for 2003 were $2,000,000. Sales for 2002 were $1,600,000. 1. Prepare the asset section of a common-size balance sheet for Elison Company for 2003 and 2002. 2. Overall, Elison is less efficient at using its assets to generate sales in 2003 than in 2002. What asset or assets are responsible for this decreased efficiency?

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Cash Accounts receivable. Inventory Property, plant, and equipment Total assets. 2003 $ 68,000 86,000 136,000 2002 $ 50,000 80,000 60,000 182,000 110,000 $472,000 $300,000