125. Assume a company’s sales are $1.6 million in 2014, $1.8 million in 2015, and $1.7 million in 2016. What is the percentage change from 2014 to 2015? What is the percentage change from 2015 to...

125. Assume a company’s sales are $1.6 million in 2014, $1.8 million in 2015, and $1.7 million in 2016. What is the percentage change from 2014 to 2015? What is the percentage change from 2015 to 2016? Be sure to indicate whether the percentage change is an increase or a decrease.

126. If a company’s sales are $648,000 in 2015, and this represents an 8% increase over sales in 2014, what were sales in 2014?

127. United Products began the year with an Accounts Receivable balance of $250,000, and had a year-end balance of $280,000. Credit sales of $800,000 generated a gross profit of $150,000. Calculate the receivables turnover ratio for the year.