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current assets, current liabilities, and sales over the last five years (Year 5 is the most recent year) are as follows: Year 1 $ 4,516,460 $ 86,494 406,053 810,660 $ 1,303,207 $317,307 Year 3 $5,034,860 $ 86,908 449,046 829,236 $ 1,365,190 $ 327,913 Sales Cash Accounts receivable, net Inventory Total current assets Current liabilities. Sales Current assets Cash Accounts receivable, net Inventory Total current assets Current liabilities Year 1 % % % % % % 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 2 % % % % % % Year 2 $ 4,831,880 $100,091 429,437 877,627 $ 1,407,155 $ 332,736 Year 3 % % % % % % Year 4 % % % % % % Year 4 $ 5,438,560 Year 5 $ 87,184 503,934 882,098 $ 1,473,216 $ 332,432 % Year 5 $5,735,450 % % % % % $ 78,096 563,427 913,556 $1,555,079 $ 409,564 4

current assets, current liabilities, and sales over the last five years (Year 5 is the most recent year) are as follows: Year 1 $ 4,516,460 $ 86,494 406,053 810,660 $ 1,303,207 $317,307 Year 3 $5,034,860 $ 86,908 449,046 829,236 $ 1,365,190 $ 327,913 Sales Cash Accounts receivable, net Inventory Total current assets Current liabilities. Sales Current assets Cash Accounts receivable, net Inventory Total current assets Current liabilities Year 1 % % % % % % 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 2 % % % % % % Year 2 $ 4,831,880 $100,091 429,437 877,627 $ 1,407,155 $ 332,736 Year 3 % % % % % % Year 4 % % % % % % Year 4 $ 5,438,560 Year 5 $ 87,184 503,934 882,098 $ 1,473,216 $ 332,432 % Year 5 $5,735,450 % % % % % $ 78,096 563,427 913,556 $1,555,079 $ 409,564 4

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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 Sales Current assets: Cash Accounts receivable, net Inventory Total current assets Current liabilities Year 1 % % % % % % Year 1 $ 4,516,460 $ 86,494 406,053 810,660 $ 1,303,207 $ 317,307 Year 2 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 2 $ 4,831,880 $100,091 429,437 877,627 $1,407,155 $ 332,736 Year 3 % % % % % % Year 3 $ 5,034,860 Year 4 $ 86,908 449,046 829,236 $1,365,190 $327,913 % % % % % % Year 4 $ 5,438,560 Year 5 $ 87,184 503,934 882,098 $1,473,216 $ 332,432 % Year 5 $ 5,735,450 $78,096 563,427 913,556 $ 1,555,079 $ 409,564 % % % % %
Transcribed Image Text: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 Sales Current assets: Cash Accounts receivable, net Inventory Total current assets Current liabilities Year 1 % % % % % % Year 1 $ 4,516,460 $ 86,494 406,053 810,660 $ 1,303,207 $ 317,307 Year 2 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 2 $ 4,831,880 $100,091 429,437 877,627 $1,407,155 $ 332,736 Year 3 % % % % % % Year 3 $ 5,034,860 Year 4 $ 86,908 449,046 829,236 $1,365,190 $327,913 % % % % % % Year 4 $ 5,438,560 Year 5 $ 87,184 503,934 882,098 $1,473,216 $ 332,432 % Year 5 $ 5,735,450 $78,096 563,427 913,556 $ 1,555,079 $ 409,564 % % % % %
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