Rotorua Products, Limited, of New Zealand markets agricultural products for the burgeoning Asian consumer market. The company'scurrent assets, current liabilities, and sales over the last five years (Year 5 is the most recent year) are as follows:SalesCashAccounts receivable, netInventoryTotal current assetsCurrent liabilitiesSainsCurrent assetsCashAccounts receivable, netinventoryTotal current assesCument labesYear 1%%%Year 1$4,599,170$ 98,780403,731806,316$1,308,827$ 307,643Required:1, Express all of the asset, liability, and sales data in trend percentages. Use Year 1 as the base year. (Round your percentage answersto 1 decimal place (.e., 0.1234 should be entered as 12.3).)%Year 2%%%%%Year 2$4,766,250$89,994431,432869,464$1,390,890$336,456Year 3%%%%%Year 3$ 5,097,530$91,640435,815826,871$1,354,326$330,139Year 4%%%Year 4$ 5,467,000$84,639511,755890,352$1,486,746Year 5Year 5$ 5,812,500%%%64,779560,003911,752$1,544,534$ 407,308 A comparative Income statement is given below for McKenzie Sales, Limited, of Toronto:McKenzie Sales, LimitedComparative Income StatementSalesCost of goods soldGross marginSelling and administrative expenses:Selling expensesAdministrative expensesTotal expensesNet operating incomeInterest expenseNet incone before taxesSalesCost of goods soldGross marginSelling and administrative expensesSelling expensesAdministrative expensesTotal selling and administrative expensesThis Year$ 7,360,0004,740,0002,620,000Net operating incomeInterest expenseNet income before taxesThis YearMembers of the company's board of directors are surprised to see that net income increased by only $134,900 when sales increasedbyRequired:1 Express each year's income statement in common-size percentages. (Round your percentage answers to 1 decimal place (ie..0.1234 should be entered as 12.3).)0.0 %%%0.0 %0.0 %1,374,000703,0002,077,000%543,000100,0000443,0000.0 %Last YearLast Year$5,593,6003,514,0002,079,60000%%1,073,500600,0001,681,5000.0 %0,0 %%0.0 %398,10090,000$300,100

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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: Sales cash Accounts receivable, net Inventory Total current assets Current liabilities Sales Current assets Accounts receivable net Total curent asses Cument abs Year 1 $4,599,170 $ 98,780 403,731 806,316 $1,308,827 $ 307,643 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 (.e., 0.1234 should be entered as 12.3).) % % 1% Year 2 Year 2 $4,766,250 $89,994 431,432 869,464 $ 1,390,890 $336,456 Year 3 % % % Year 3 $5,097,530 $ 91,640 435,015 826,871 $1,354,326 $ 330,139 Year 4 % % Year 4 $ 5,467,000 $84,639 511,755 890,352 $ 1,486,746 $ 328,184 Year 5 Tear 5 $ 5,812,500 $ 64,779 568,003 911,752 $1,544,534 $ 407,388 %

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: Sales cash Accounts receivable, net Inventory Total current assets Current liabilities Sales Current assets Accounts receivable net Total curent asses Cument abs Year 1 $4,599,170 $ 98,780 403,731 806,316 $1,308,827 $ 307,643 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 (.e., 0.1234 should be entered as 12.3).) % % 1% Year 2 Year 2 $4,766,250 $89,994 431,432 869,464 $ 1,390,890 $336,456 Year 3 % % % Year 3 $5,097,530 $ 91,640 435,015 826,871 $1,354,326 $ 330,139 Year 4 % % Year 4 $ 5,467,000 $84,639 511,755 890,352 $ 1,486,746 $ 328,184 Year 5 Tear 5 $ 5,812,500 $ 64,779 568,003 911,752 $1,544,534 $ 407,388 %

Financial Accounting: The Impact on Decision Makers

10th Edition

ISBN:9781305654174

Author:Gary A. Porter, Curtis L. Norton

Publisher:Gary A. Porter, Curtis L. Norton

Chapter2: Financial Statements And The Annual Report

Section: Chapter Questions

Problem 2.13MCE

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