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11 Dec 2019

A firm's long term assets = $20,000, total assets = $330,000,inventory = $17,000 and current liabilities = $20,000. (Round youranswers to 1 decimal place.)

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Balance SheetClassi?cations and Relationships:
Shelley and Co. has the following balance sheet elements as ofDecember 31, 2012.
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Compute the total amount of:
1. Current assets.
2. Long-term assets.
3. Current liabilities.
4. Long-term liabilities.
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Exercise 15-10 Trend Percentages [LO1]

Starkey Company’s sales, current assets, and current liabilities(all in thousands of dollars) have been reported as follows overthe last five years (Year 5 is the most recent year):

Year 5 Year 4 Year 3 Year 2 Year 1
Sales $ 5,625 $ 5,400 $ 4,950 $ 4,725 $ 4,500
Current assets:
Cash $ 64 $ 72 $ 84 $ 88 $ 80
Accounts receivable 560 496 432 416 400
Inventory 896 880 816 864 800
Total current assets $ 1,520 $ 1,448 $ 1,332 $ 1,368 $ 1,280
Current liabilities $ 390 $ 318 $ 324 $ 330 $ 300
Required:
1.

Express all of the asset, liability, and sales data in trendpercentages. Use Year 1 as the base year. (Round youranswers to 1 decimal place. Omit the "%" sign in yourresponse.)
Year 5 Year 4 Year 3 Year 2 Year 1
Sales % % % % %
Current assets:
Cash
Accounts receivable
Inventory
Total current assets
Current liabilities

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