Selected items from the balance sheet and income statement are shown below for the Carswell Corporation for 2017 and 2016.Calculate the amount of the change and the percentage change for each item.
$\begin{array}{lll}&2017&2016\
\text { Cash } & \$ 130,000 & \$ 100,000 \
\text { Accounts receivable } & 100,000 & 125,000 \
\text { Merchandise inventory } & 65,000 & 85,000 \
\text { Accounts payable } & 62,500 & 50,000 \
\text { Sales } & 150,000 & 135,000 \
\text { Cost of goods sold } & 73,500 & 67,500
\end{array}$

Question

Selected items from the balance sheet and income statement are shown below for the Carswell Corporation for 2017 and 2016.Calculate the amount of the change and the percentage change for each item.
 $\begin{array}{lll}&2017&2016\
\text { Cash } & \$ 130,000 & \$ 100,000 \
\text { Accounts receivable } & 100,000 & 125,000 \
\text { Merchandise inventory } & 65,000 & 85,000 \
\text { Accounts payable } & 62,500 & 50,000 \
\text { Sales } & 150,000 & 135,000 \
\text { Cost of goods sold } & 73,500 & 67,500
\end{array}$

Quizplus · Accepted Answer

The Answer of Selected items from the balance sheet and income statement are shown below for the Carswell Corporation for 2017 and 2016.Calculate the amount of the change and the percentage change for each item.
 $\begin{array}{lll}&2017&2016\
\text { Cash } & \$ 130,000 & \$ 100,000 \
\text { Accounts receivable } & 100,000 & 125,000 \
\text { Merchandise inventory } & 65,000 & 85,000 \
\text { Accounts payable } & 62,500 & 50,000 \
\text { Sales } & 150,000 & 135,000 \
\text { Cost of goods sold } & 73,500 & 67,500
\end{array}$

Selected Items from the Balance Sheet and Income Statement Are