How much accounts receivable and merchandise inventory

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Reference no: EM13938926

HORIZONTAL AND VERTICAL ANALYSIS

Use the following selected data from the financial statements of Harry's Hardware Company to answer the questions that follow.

	2009	2008
Accounts receivable	$ 60,000	$ 38,000
Merchandise inventory	12,000	16,000
Total assets	450,000	380,000
Net sales	380,000	270,000
Cost of goods sold	160,000	210,000

Required:

1. Calculate how much accounts receivable, merchandise inventory, total assets, net sales, and cost of goods sold increased or decreased from 2008 to 2009.

2. Indicate what happened from 2008 to 2009 to accounts receivable and merchandise inventory as a percentage of total assets. Indicate what happened from 2008 to 2009 to cost of goods sold as a percentage of net sales.

Reference no: EM13938926

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