question 47
Multiple Choice
Comparative financial statements for Cross, Inc.are shown below: Assets Current assets: Cash Accounts receivable Inventory Prepaid expenses Total current assets Property, plant and equipment, net Total assets Liabilities and Stockholders’ Equity Current liabilities: Accounts payable Other current liabilities Total current liabilities Long-term debt Total liabilities Stockholders’ equity: Common stock Retained earnings Retained earnings Total stockholders’ equity Total liabilities and stockholders’ equity Net sales Cost of goods sold Gross margin Operating expense Operating income Interest expense Earnings before tax Income taxes Net income December 312018$89,103142,00096,70821,203349,014822,576$1.171.590$85,44338,112123,555302,430425,985600,000145,60514,700745,605$1,171,590 Year Ended December 312018$17,005,85212,250,2574,755,5953,585,6571,169,93828,5001,141,438342,431$799,0072017$68,203135,00085,6945,118294,015718,144$1012,159$62,39433,50795,901290,324386,225600,00025,9348,000625,934$1,012,1592017$13,809,5859,825,6143,983,9713,400,258583,71327,300556,413166,924$389,489 Using horizontal analysis, how much is Cross, Inc.'s percentage change in accounts receivable from 2017 to 2018?
Definitions:
Bell Curve
A graphical representation of a normal distribution, showing how the likelihood of variables is highest near the mean and decreases symmetrically in both directions.
Frequency Distribution
A statistical analysis showing how often various values occur within a data set, often displayed in a table or graph.
Variance
A statistical measure that represents the spread or dispersion of a set of data points or investment returns from their mean.
Efficient Market
A market hypothesis stating that asset prices fully reflect all available information, making it impossible to consistently achieve higher returns.