Problem 1 Question No. 1. Leland Corp. reported net sales of P300,000, P330,000, and P360,000 in the years 2010, 2011, 2012, respectively. If 2010 is the base year, what is the trend percentage for 2012? Problem 2 The following are the selected information from the accounting records of Keisha Corporation: Net accounts receivable, 12/31/11 900,000 Net accounts receivable, 12/31/12 1,100,000 Accounts receivable turnover 5:1 Inventories, 12/31/11 1,100,000 Inventories, 12/31/12 1,300,000 Inventory turnover 4:1 Question No. 2: The gross margin rate for 2012 is: Hints: AR turnover = Net sales / Average net accounts receivable Invty. turnover = COGS / Average inventory Gross profit = Sales - Cost of Goods sold Question No. 3: Assuming a business year consisting of 365 days, what was the average number of days' sales in average receivables for 2012