Use the following selected data from the financial statements of Harry€™s Hardware Company to answer the questions that follow.

Required:
1. Calculate how much accounts receivable, merchandise inventory, total assets, net sales, and cost of goods sold increased or decreased from 2008 to 2009.
2. Indicate what happened from 2008 to 2009 to accounts receivable and merchandise inventory as a percentage of total assets. Indicate what happened from 2008 to 2009 to cost of goods sold as a percentage of netsales.

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2009 2008 Accounts receivable Merchandise inventory Total assets Net sales Cost of goods sold 60,000 12,000 450,000 380,000 160,000 38,000 16,000 380,000 270,000 210,000