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problem: The Hopewell Pharmaceutical Company's balance sheet & income statement for last year are as follows:

Balance Sheet (in Millions of Dollars)

Assets Liabilities & Equity

 Cash and Marketable securities

$1,100

Accounts Payable

$900

Accounts receivable

1,300

Accrued liabilities

(Salaries and benefits)

300

Inventories

800

Other Current liabilities

700

Other current assets

200

Total current liabilities

$1,900

Total current assets

$3,400

Long-term debt and other liabilities

1,000

Plant and equipment (net)

2,300

Common stock

1,800

Other Assets

1,000

Retained earnings

2,000

Total Assets

$6,700

Total Stockholders' equity

3,800

Total liabilities and equity

$6,700

   

Assume that average inventory over the year was $800 million, that is, same as ending inventory.

Income Statement [In millions of dollars]

Net Sales

$6,500

Cost of sales

1,500

Selling, general, and administrative expenses

2,500

Other expenses

800

Total expenses

$4,800

Earnings before taxes

1,700

Taxes

680

Earnings after taxes (net income)

$1,020

[A] find out Hopewell's cash conversion cycle.

[B] Make an interpretation of the value find outd in [A].

Cost Accounting, Accounting

  • Category:- Cost Accounting
  • Reference No.:- M923092

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