Use the Current Assets Section of the Balance Sheets of the Breeze

question 52

Essay

Use the Current Assets section of the balance sheets of the Breeze Company as of June 30,2018 and 2017 presented below to answer the questions that follow.
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$\begin{array}{lrr}&2018&2017\\\text { Cash and cash equival ents } & \$ 75,000 & \$ 58,800 \\\text { Trade accounts receivable, net } & 157,500 & 193,200 \\\text { Inventory } & 208,200 & 253,400 \\\text { Other current assets } & 18,400 & 15,500 \\\quad \text { Total current assets } & \$ 459,100 & \$ 520,900 \\\text { Total assets } & \$ 2,650,000 & \$ 3,430,000\end{array}$ Required
Complete a horizontal analysis of the Current Assets section of Breeze Company's balance sheet for 2018.Your answers for "% Change" should be rounded to one decimal place, e.g. ,10.3%.Provide a short evaluation of this analysis.

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Definitions:

°C

Degrees Celsius, a scale and unit of measurement for temperature.

Chlorine Gas

A diatomic green-yellow, highly reactive gas and a powerful oxidizing agent, widely used for water purification and in the manufacture of various products.

Volume

A measure of the amount of space occupied by a substance, such as a gas, liquid, or solid.

°C

A unit of measurement for temperature on the Celsius scale, where 0°C represents the freezing point of water and 100°C represents the boiling point at sea level.