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Rotorua Products, Limited, of New Zealand markets agricultural products for the burgeoning Asian consumer market. The company’s current assets, current liabilities, and sales over the last five years (Year 5 is the most recent year) are as follows:     Year 1 Year 2 Year 3 Year 4 Year 5 Sales $ 4,629,850 $ 4,882,820 $ 5,051,360 $ 5,561,430 $ 5,779,850 Cash $ 92,281 $ 100,754 $ 100,089 $ 88,760 $ 74,387 Accounts receivable, net 400,699 434,827 445,236 507,424 568,470 Inventory 805,036 874,663 822,264 897,114 903,388 Total current assets $ 1,298,016 $ 1,410,244 $ 1,367,589 $ 1,493,298 $ 1,546,245 Current liabilities $ 317,424 $ 340,337 $ 332,468 $ 321,672 $ 391,861   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).)

Rotorua Products, Limited, of New Zealand markets agricultural products for the burgeoning Asian consumer market. The company’s current assets, current liabilities, and sales over the last five years (Year 5 is the most recent year) are as follows:     Year 1 Year 2 Year 3 Year 4 Year 5 Sales $ 4,629,850 $ 4,882,820 $ 5,051,360 $ 5,561,430 $ 5,779,850 Cash $ 92,281 $ 100,754 $ 100,089 $ 88,760 $ 74,387 Accounts receivable, net 400,699 434,827 445,236 507,424 568,470 Inventory 805,036 874,663 822,264 897,114 903,388 Total current assets $ 1,298,016 $ 1,410,244 $ 1,367,589 $ 1,493,298 $ 1,546,245 Current liabilities $ 317,424 $ 340,337 $ 332,468 $ 321,672 $ 391,861   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).)

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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Rotorua Products, Limited, of New Zealand markets agricultural products for the burgeoning Asian consumer market. The company’s current assets, current liabilities, and sales over the last five years (Year 5 is the most recent year) are as follows:

 

  Year 1 Year 2 Year 3 Year 4 Year 5
Sales $ 4,629,850 $ 4,882,820 $ 5,051,360 $ 5,561,430 $ 5,779,850
Cash $ 92,281 $ 100,754 $ 100,089 $ 88,760 $ 74,387
Accounts receivable, net 400,699 434,827 445,236 507,424 568,470
Inventory 805,036 874,663 822,264 897,114 903,388
Total current assets $ 1,298,016 $ 1,410,244 $ 1,367,589 $ 1,493,298 $ 1,546,245
Current liabilities $ 317,424 $ 340,337 $ 332,468 $ 321,672 $ 391,861

 

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).)

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).) Sales Current assets: Cash Accounts receivable, net Inventory Total current assets Current liabilities Year 1 100.0 100.0 100.0 100.0 100.0 100.0 % % % % % % X Answer is complete but not entirely correct. Year 3 109.1 % Year 4 120.1 Year 2 105.5 % 119.1 108.5 108.7 108.7 107.2 *››› › % % % % % 108.5 111.1 % % 102.1 % 105.4 % 104.7 % 96.2 126.6 111.4 115.0 101.3 % % % % % % Year 5 124.8 % 81.7 X % 141.9 112.2 % % % % 119.1 123.5
Transcribed Image Text: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).) Sales Current assets: Cash Accounts receivable, net Inventory Total current assets Current liabilities Year 1 100.0 100.0 100.0 100.0 100.0 100.0 % % % % % % X Answer is complete but not entirely correct. Year 3 109.1 % Year 4 120.1 Year 2 105.5 % 119.1 108.5 108.7 108.7 107.2 *››› › % % % % % 108.5 111.1 % % 102.1 % 105.4 % 104.7 % 96.2 126.6 111.4 115.0 101.3 % % % % % % Year 5 124.8 % 81.7 X % 141.9 112.2 % % % % 119.1 123.5
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