Mandesa, Inc. has current liabilities of $10,000,000, current ratio of 1.8 times, inventory turnover of 10 times, average collection period of 50 days, and credit sales of $66,000,000. Calculate the value of cash and marketable securities. (Use 365 days a year. Do not round your intermediate calculations. Round your final answer to the nearest dollar amount.
Mandesa, Inc. has current liabilities of $10,000,000, current ratio of 1.8 times, inventory turnover of 10 times, average collection period of 50 days, and credit sales of $66,000,000. Calculate the value of cash and marketable securities. (Use 365 days a year. Do not round your intermediate calculations. Round your final answer to the nearest dollar amount.
Chapter3: Evaluation Of Financial Performance
Section: Chapter Questions
Problem 1P
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Mandesa, Inc. has current liabilities of $10,000,000, current ratio of 1.8 times, inventory turnover of 10 times, average collection period of 50 days, and credit sales of $66,000,000.
Calculate the value of cash and marketable securities. (Use 365 days a year. Do not round your intermediate calculations. Round your final answer to the nearest dollar amount.)
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