Use the current asset section of the balance sheets of the Satin Company as of J
ID: 2376479 • Letter: U
Question
Use the current asset section of the balance sheets of the Satin Company as of June 30, 2012 and 2011 presented below to answer the questions that follow.
2012 2011
Cash and cash equivalents $75,000 $58,800
Trade accounts receivable, et 157,500 193,200
Inventory 208,200 253,400
Other current assets 18,400 15,500
Total current assets $459,100 $520,900
Total assets $2,650,000 $3,430,000
Below, complete a horizontal analysis of the current asset section of Shannon Company's balance sheet for 2012. Your answers for "%Change" should be rounded to one decimal place, e.g., 10.3%. Provide a short evaluation of this analysis.
$ Change % Change
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Explanation / Answer
change %
cash ans cah equivalent 16200 27.5%
Trade discount -35700 18.47%
Inventory -45200 17.83%
other current asset 2900 18.7%
total current asset -61800 11.86%
Total asset -780000 22.74%
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