Please Refer to the Vertical Analysis of a Section of a Balance

Multiple Choice

Please refer to the vertical analysis of a section of a balance sheet,shown below: $\begin{array}{|c|c|c|c|c|}\hline \text { (Dollar amounts in millions) } & 2017 & & 2016 & \\\hline & \text { Amount } & \% \text { of total } & \text { Amount } & \% \text { of total } \\\hline \text { Assets } & & & & \\\hline \text { Current assets: } & & & & \\\hline \text { Cash } & \$ 10000 & 3.7 \% & \$ 7200 & 2.9 \% \\\hline \text { Accounts receivable, net } & 15600 & 5.7 \% & 16800 & 6.7 \% \\\hline \text { Inventory } & 38000 & 13.9 \% & 31000 & 12.4 \% \\\hline \text { Total current assets } & 63600 & 23.2 \% & 55000 & 22.0 \% \\\hline \text { Property, plant and equipment, net } & 195000 & 71.3 \% & 168000 & 67.2 \% \\\hline \text { Other non-current assets } & 15000 & 5.5 \% & 27100 & 10.8 \% \\\hline \text { Total assets } & \$ 273600 & 100.0 \% & \$ 250100 & 100.0 \% \\\hline\end{array}$ Which of the following statements accurately describes the data shown for total current assets?

A) In 2017,current assets grew by 23.2% compared to 2016.
B) In 2017,current assets as a percentage of total assets declined over the previous year.
C) Current assets grew as a percentage of total assets over the two year period.
D) Current assets are equal to 23.2% of net sales in 2017.