Use the Current Assets Section of the Balance Sheets of Breeze

question 35

Essay

Use the Current Assets section of the balance sheets of 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 vertical analysis of the Current Assets section of Breeze Company's balance sheets for 2018 and 2017.Your answers should be rounded to one decimal place,

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Definitions:

Adjusted Gross Income

An individual's total gross income minus specific deductions, used in the United States tax system to determine how much income is taxable.

Wage Earners

Individuals who receive compensation for their labor or services in the form of wages or salary.

Gross Domestic Product

The total monetary or market value of all the finished goods and services produced within a country's borders in a specific time period.

Purchasing Power Parity

An economic theory that compares different countries' currencies through a "basket of goods" approach, to assess the relative value of currencies and the cost of living.