Problem

Percentage ChangesSelected information taken from the financial statements of Maxum Compan...

Percentage Changes

Selected information taken from the financial statements of Maxum Company for two successive years follows. You are to compute the percentage change from 2010 to 2011 whenever possible. Round all calculations to the nearest whole percentage.

 

 

2011

2010

a.

Accounts receivable

 $126,000

 $160,000

b.

Marketable securities.

-0-

 250,000

c.

Retained earnings

80,000

(80,000)

d.

 Notes receivable

 120,00

-0-

e.

Notes payable

870,000

800,000

f.

Cash

84,000

 80,000

g.

 Sales

970,000

910,000

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