Horizontal and Vertical Analysis Plato Clothing Company specializes in selling apparel for special occasions. In 2022 and 2023, Plato's account balances were as follows: Accounts receivable Merchandise inventory Total assets Net sales Cost of goods sold Req red: Accounts receivable Merchandise inventory 1. Calculate the change in each of the Plato's accounts from 2022 to 2023. Enter negative sign for decrease values. Total assets Net sales Cost of goods sold Accounts receivable Merchandise inventory 2023. Cost of goods sold 2023. $ $ 2. Indicate what happened from 2022 to 2023 to accounts receivable and merchandise inventory as a percentage of total assets. Round your answers to the nearest whole percent. 2023. $ 2023 $60,750 7,650 297,040 221,000 113,880 $ 2022 from $45,000 17,100 288,750 211,200 84,100 from % in 2022 to Indicate what happened from 2022 to 2023 to cost of goods sold as a percentage of net sales. Round your answers to the nearest whole percent. from % in 2022 to % in 2022 to
Horizontal and Vertical Analysis Plato Clothing Company specializes in selling apparel for special occasions. In 2022 and 2023, Plato's account balances were as follows: Accounts receivable Merchandise inventory Total assets Net sales Cost of goods sold Req red: Accounts receivable Merchandise inventory 1. Calculate the change in each of the Plato's accounts from 2022 to 2023. Enter negative sign for decrease values. Total assets Net sales Cost of goods sold Accounts receivable Merchandise inventory 2023. Cost of goods sold 2023. $ $ 2. Indicate what happened from 2022 to 2023 to accounts receivable and merchandise inventory as a percentage of total assets. Round your answers to the nearest whole percent. 2023. $ 2023 $60,750 7,650 297,040 221,000 113,880 $ 2022 from $45,000 17,100 288,750 211,200 84,100 from % in 2022 to Indicate what happened from 2022 to 2023 to cost of goods sold as a percentage of net sales. Round your answers to the nearest whole percent. from % in 2022 to % in 2022 to
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter12: Fainancial Statement Analysis
Section: Chapter Questions
Problem 48CE
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