Visit an area of your college that serves the student community with either products or services.

Some examples are food services, libraries, and bookstores. Identify and describe between four and eight internal controls being implemented.

Required 1. For each year, compute the percentage (rounded to one decimal) that cash represents of current assets, total assets, current liabilities, and shareholders’ equity. Comment on any trends in these percentages.
2. Determine the percentage change (rounded to one decimal) between the current and prior year cash balances.
3. Compute the days’ sales uncollected (rounded to one decimal) at the end of both the current year and the prior year. Has the collection of receivables improved? Explain.

Transcribed Image Text:

Win millions Current Year Prior Year Cash #22,636,744 # 16,840,766 Accounts receivable. 28,520,689 28,234,485 Current assets. 124,814,725 115,146,026 Total assets... 242,179,521 230,422,958 Current liabilities... 50,502,909 52,013,913 Shareholders' equity 179,059,805 168,088,188 Net sales.. 200,653,482 206,205,987