Exercise 16-7 (Algo) Trend Percentages [L016-1]Rotorua Products, Limited, of New Zealand markets agricultural products for the burgeoning Asian consumer market. Thecompany's current assets, current liabilities, and sales over the last five years (Year 5 is the most recent year) are as follows:Year 1Year 2Year 3Year 4Year 5$ 5,456,550$ 4,625,370$ 86,824406,629819,170$ 1,312,623$ 5,735,260$ 77,971570,061Sales$ 4,764,460$ 5,130,760$ 99,665428,795865,429$ 84,918446,713831,348$ 79,790500,940887,176$ 1,467,906CashAccounts receivable, netInventory912,215Total current assets$ 1,393,889$ 1,362,979$ 1,560,247Current liabilities$ 310,884$ 333,797$ 325,392$ 328,830$ 396,587Required:1. Express all of the asset, liability, and sales data in trend percentages. Use Year 1 as the base year. (Round your percentageanswers to 1 decimal place (i.e., 0.1234 should be entered as 12.3).)Year 1Year 2Year 3Year 4Year 5Sales%%%%%Current assets:Cash%%%Accounts receivable, net%%%Inventory%%%Total current assets%%%Current liabilities%%%%%

Formula: Year 2 sales % = ( Year 2 sales value / Year 1 sales value ) x 100

Answered: Rotorua Products, Limited, of New…

FINANCIAL ACCOUNTING

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Chapter1: Financial Statements And Business Decisions

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