using the finanical statement information below, calculate Verizon's 2020 Days Inventory verizonConsolidated Income Statements (In millions of dollars)Year endedYear endedDec 31, 2020Dec 31, 2019Sales$ 128,292$ 131,868Cost of goods sold51,20154,726Gross profit77,09177,142Selling, general and administrative expensesDepreciation and amortization expense31,57329,89616,72016,682Income from operations28,79830,564Other expense, net5843,101Interest expense4,2474,730Income before income taxes23,96722,733Income tax expense/(benefit)5,6192,945Net income$ 18,348$19,788 verizonConsolidated Balance Sheets (In millions of dollars)As ofAs ofDec 31, 2020$ 22,171ASSETSDec 31, 2019Cash and cash equivalents$ 2,594Accounts receivable23,91725,429Inventories1,7961,422Prepaid expenses and other current assets6,7108,028Total current assets54,59437,473Property and equipment, net| Intangible assetsOther long-term assets94,83391,915152,814151,64010,699$ 291,72714,240Total assets$ 316,481LIABILITIES & EQUITYDebt maturing within one year$ 5,889$ 10,777Accounts payable and accrued liabilities20,65821,806Other current liabilities13,11312,285Total current liabilities39,66044,868Long-term debt123,173100,712| Other long-term liabilities84,37683,312Total liabilities247,209228,892Common stock and additional paid in capitalRetained earnings13,83313,85860,46453,147Accumulated other comprehensive income(5,025)(4,170)Total shareholders' equity69,27262,835Total liabilities and shareholders' equity$ 316,481$ 291,727

Introduction: Days inventory can be defined as the number of days for which a company would hold its…

Answered: calculate Verizon's 2020 Days Inventory

Business

Finance

calculate Verizon's 2020 Days Inventory

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter12: Fainancial Statement Analysis

Section: Chapter Questions

Problem 86PSA

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