elected data from the financial statements of Bloom's Garden Centre is provided below. 2018 2017

elected data from the financial statements of Bloom's Garden Centre is provided below.

2018

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2017

Accounts receivable

$22 000

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$56 000

Inventory

50 000

17 000

Total assets

420 000

360 000

Net sales

380 000

270 000

Cost of goods sold

170 000

220 000

Which of the following would result from a horizontal analysis of Bloom's statement of financial position?

Accounts receivable is four times smaller than inventory in 2018

Accounts receivable decreased $34 000 or 60.71% during 2018

Accounts receivable decreased $34 000 or 52.14% during 2018

The accounts receivable turnover ratio is 0.76 in 2018

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