2021 2020 2019 2018 2017 Sales $ 469,167 $ 304,654 $ 238,944 $ 169,464 $ 122,800 Cost of goods sold 232,392 150,980 120,183 84,887 60,172 Accounts receivable 22,661 17,792 16,344 9,914 8,387 Compute trend percents for the above accounts, using 2017 as the base year For each of the three accounts, state whether the situation as revealed by the trend percents appears to be favorable or unfavorable Trend Percent for Net Sales Numerator Denominator Trend percent 2021 2020 2019 2018 2017 Is the trend percent for Net Sales favorable or unfavorable Trend Percent for Cost of Goods Sold Numerator Denominator Trend percent 2021 2020 2019 2018 2017 Is the trend percent for Cost of Goods Sold favorable or unfavorable Trend Percent for Accounts Receivable Numerator Denominator Trend percent 2021 2020 2019 2018 2017 Is the trend percent for Accounts Receivable favorable or unfavorable

The Answer is in the image, click to view...

Question: 2021 2020 2019 2018 2017 Sales $ 469,167 $ 304,654 $ 238,944 $ 169,464 $ 122,800 Cost of goods sold 232,392 150,980 120,183 84,887 60,172

2021	2020	2019	2018	2017
Sales	$ 469,167	$ 304,654	$ 238,944	$ 169,464	$ 122,800
Cost of goods sold	232,392	150,980	120,183	84,887	60,172
Accounts receivable	22,661	17,792	16,344	9,914	8,387

Compute trend percents for the above accounts, using 2017 as the base year. For each of the three accounts, state whether the situation as revealed by the trend percents appears to be favorable or unfavorable.

Trend Percent for Net Sales:
	Numerator:	/	Denominator:
		/		=	Trend percent
2021:		/		=		%
2020:		/		=		%
2019:		/		=		%
2018:		/		=		%
2017:		/		=		%
Is the trend percent for Net Sales favorable or unfavorable?

Trend Percent for Cost of Goods Sold:
	Numerator:	/	Denominator:
		/		=	Trend percent
2021:		/		=		%
2020:		/		=		%
2019:		/		=		%
2018:		/		=		%
2017:		/		=		%
Is the trend percent for Cost of Goods Sold favorable or unfavorable?

Trend Percent for Accounts Receivable:
	Numerator:	/	Denominator:
		/		=	Trend percent
2021:		/		=		%
2020:		/		=		%
2019:		/		=		%
2018:		/		=		%
2017:		/		=		%
Is the trend percent for Accounts Receivable favorable or unfavorable?

Step by Step Solution

★★★★★

3.54 Rating (154 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

For each situation given, calculate cost of goods sold and identify if the information provided reflects a perpetual or periodic inventory system. a. b. A physical inventory count at year-end showed...

For each situation given, calculate cost of goods sold and identify if the information provided reflects a perpetual or periodic inventory system. a. Merchandise Inventory shows a balance at January...

Net sales are $400,000, cost of goods sold is $310,000, operating expenses are $60,000 and other revenues are $5,200. What are the gross profit margin and profit margin? a. 22.5% and 7.5% b. 7.5% and...

The following selected financial information is available for HAS, Inc. Amounts are in millions of dollars. Required Divide the class into groups of four or five students each. Organize the groups...

Evergreen Carpets' books show the following data. In early 2013, auditors found that the ending inventory for 2010 was understated by $6,000 and that the ending inventory for 2012 was overstated by...

Peaceful Carpets books show the following data. In early 2013, auditors found that the ending inventory for 2010 was understated by $4,000 and that the ending inventory for 2012 was overstated by...

Mariner, Corp., reported the following revenues and net income amounts: Requirements 1. Calculate Mariners trend analysis for revenues and net income. Use 2010 as the base year, and round to the...

C&C Sports has determined the following unit costs for each of its products: On May 31, C&C Sports Work in Process Inventory consisted of the following items: During June, a total of $191,591 in...

In Example 6, the Gordon growth model value for MSEX was estimated as $$21.88$ based on a current dividend of $$0.74$, an expected dividend growth rate of 3.5 percent, and a required return on...

1. The GDP deflator is calculated for any given year by dividing nominal GDP by ______GDP and multiplying by 100. 2. If the base year is 2010, then real and nominal GDP in 2010 will be equal. ____...

Sales volumes lower than the break-even point result in a firm having Multiple Choice operating losses operating profits break even cash flows again of potentialleverage and bank financing

Question 14 of 50 Sally purchases 3 ABC Apr 25 calls at 2.50. The stock is currently selling at 28. What is her maximum loss? A Unlimited B $750 C $450 D $250

The time to failure (in hours) for a laser in a cytometry machine is modeled by an exponential distribution with = 0.00004. Round the answers to 3 decimal places. (a) What is the probability that the...

Henrik is stopped behind another vehicle at an intersection. The light turns green, and he waits 3-4 seconds before accelerating. Why should he do this? a) It puts adequate following distance between...

The workplace practice of referring to your boss by his or her first name describes which of the following cultural characteristics? Collectivism Long-term orientation Individualism Low power...

To develop the agile capability for an organization s supply chain, they must start from within. Often centralized operations need to be decentralized to cut bureaucracy to respond to local...

3. (20 points) A) (10 points) You enter into a three year contract. In the contract you agree to pay $1 to someone in one year's time and again in two years' time. The interest rate is 0.05 or 5%....

How can you tell from the vertex form y = a(x - h) 2 + k whether a quadratic function has no real zeros?

Each member of the team is to assume responsibility for one of the following tasks. a. Journalizing in the purchases journal. b. Journalizing in the cash payments journal. c. Maintaining and...

The fixed budget for 20,000 units of production shows sales of $400,000; variable costs of $80,000; and fixed costs of $150,000. The companys actual sales were 26,000 units at $480,000. Actual...

Selected comparative financial statement information of Bluegrass Corporation follows. Required 1. Compute each years current ratio. Round ratios to one decimal. 2. Express the income statement data...

The newborn grandson of one of the authors was 48 cm long and weighed 3 kg. According to the regression model of Exercise 3, what was his residual? What does that say about him? Exercise 3 A least...

For the online clothing retailer discussed in the previous problem, the scatterplot of Total Yearly Purchases by Income looks like this: The correlation between Total Yearly Purchases and Income is...

Consider the Albuquerque home sales from Exercise 29 again. The regression analysis gives the model Price = 47.82 + 0.061 Size. a) Explain what the slope of the line says about housing prices and...