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problem: The Garcia Industries balance sheet and income statement for the year ended 2006 are as follows:

Balance Sheet [in Millions of Dollars]

Assets

Liabilities and Stockholder\\\'s Equity

Cash

$6.0

Accounts Payable

$10.0

Accounts receivable

14.0

Salaries, benefits, and payroll taxes payable

2.0

Inventories*

12.0

Other current liabilities

10.0

Fixed Assets, net

40.0

Long-term debt

12.0

 

 

Stockholders\\\' equity

38.0

 

72.00

 

72.00

The average inventory over the past 2 (2) years also equals 12 million.
Income Statement (in Millions of Dollars)

Net Sales

$100.0

Cost of Sales

60.0

Selling, general and administrative expenses

20.0

Other expenses

15.0

Net Income

5.0

[A] find out the length of the inventory conversion period.
[B] find out the length of the receivables conversion period.
[C] find out the length of the operating cycle.
[D] find out the length of the payables deferral period.
[E] find out the length of the cash conversion cycle.
[F] What is the meaning of the number you find outd in (e)?

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  • Reference No.:- M923083

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