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Alvarez Solar Solutions (ASS) is a manufacturer of solar systems for homes and commercial businesses. The company has grown about 10% in each of the past five years. The company has not made any acquisitions. Following are some statistics for the company:
2011
2012
2013
2014
2015*
Sales
$800
$880
$950
$1,050
$1,300
Net income
$28
$38
$42
$52
$68
Economic growth in areas served (index 1.00 for 20 × 1)
1.00
1.04
1.09
1.13
1.14
Percent of solar market by ASS
8.9
9.4
9.6
10.8
14.0
Accounts receivable
$180
$170
$196
$210
$297
Percent of sales made in last quarter
38
36
40
43
Gross margin (%)
28.0
28.3
28.8
29.2
33.6
*Unaudited
Additional information available to the auditor includes the following:
Required
Answer the following questions relating to Alvarez Solar Solutions
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