Selected data from the financial statements of Jones Hardware Company follows.

Required:
1. Calculate by how much accounts receivable, merchandise inventory, total assets, net sales, and cost of goods sold increased or decreased in dollar terms from 2018 to 2019.
2. Indicate what happened from 2018 to 2019 to accounts receivable and merchandise inventory as a percentage of total assets (rounded to the nearest whole percent). Indicate what happened from 2018 to 2019 to cost of goods sold as a percentage of net sales (rounded to the nearest whole percent)?

Transcribed Image Text:

2019 2017 Accounts receivable Merchandise inventory Total assets Net sales Cost of goods sold $ 38,000 $ 60,000 450,000 380,000 380,000 270,000 160,000 210,000