The following table shows income statement and balance sheet data for five U.S. industries in 2017. INCOME STATEMENT AND BALANCE SHEET FOR 2017 SELECTED U.S. INDUSTRIES FOR 2017 (Figures in $ billions) Oil and Coal Computers and Peripherals Food Food Pharmaceuticals Stores Income Statement Data: $ 682.9 $ 443.5 $ 232.0 221.7 $ 490.2 467.0 Sales $ 818.0 Cost of goods sold Balance Sheet Data: 612.1 368.4 773.8 Inventory Accounts receivable Accounts payable $ 83.8 72.6 $ 72.8 84.1 $ 27.3 39.7 $ 43.9 23.4 60.2 68.8 65.0 58.3 66.3 87.5 39.7 Note: Cost of goods sold includes selling, general, and administrative expenses. Source: U.S. Department of Commerce, Quarterly Financial Report for Manufacturing, Mining, Trade Corporations, and Selected Service Industries, Quarter 3, issued December 2017. Calculate the cash cycle for each industry. (Negative amounts should be indicated by a minus sign. Use 365 days a year. Do not round intermediate calculations. Round your answers to 1 decimal place.) Computers and Peripherals Food Stores Oil Food Pharmaceuticals and Coal Cash cycle (in days)

The following table shows income statement and balance sheet data for five U.S. industries in 2017. INCOME STATEMENT AND BALANCE SHEET FOR 2017 SELECTED U.S. INDUSTRIES FOR 2017 (Figures in $ billions) Oil and Coal Computers and Peripherals Food Food Pharmaceuticals Stores Income Statement Data: $ 682.9 $ 443.5 $ 232.0 221.7 $ 490.2 467.0 Sales $ 818.0 Cost of goods sold Balance Sheet Data: 612.1 368.4 773.8 Inventory Accounts receivable Accounts payable $ 83.8 72.6 $ 72.8 84.1 $ 27.3 39.7 $ 43.9 23.4 60.2 68.8 65.0 58.3 66.3 87.5 39.7 Note: Cost of goods sold includes selling, general, and administrative expenses. Source: U.S. Department of Commerce, Quarterly Financial Report for Manufacturing, Mining, Trade Corporations, and Selected Service Industries, Quarter 3, issued December 2017. Calculate the cash cycle for each industry. (Negative amounts should be indicated by a minus sign. Use 365 days a year. Do not round intermediate calculations. Round your answers to 1 decimal place.) Computers and Peripherals Food Stores Oil Food Pharmaceuticals and Coal Cash cycle (in days)

Financial Accounting

14th Edition

ISBN:9781305088436

Author:Carl Warren, Jim Reeve, Jonathan Duchac

Publisher:Carl Warren, Jim Reeve, Jonathan Duchac

Chapter17: Financial Statement Analysis

Section: Chapter Questions

Problem 17E

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The following table shows income statement and balance sheet data for five U.S. industries in 2017. Calculate the cash cycle for each industry. INCOME STATEMENT AND BALANCE SHEET FOR 2017SELECTED U.S. INDUSTRIES FOR 2017(Figures in $ billions) Income Statement Data: Food Pharmaceuticals oil and coal Computers and Peripherals Food Stores Sales $665.9 $426.5 $801.0 $215.0 $ 473.2 Cost of goods sold 595.1 351.4 756.8 187.7 450.0 Balance Sheet Data: Inventory $ 66.8 $ 55.8 $ 43.2 $ 10.3 $ 26.9 Accounts receivable 55.6 67.1 51.8 22.7 6.4 Accounts payable 48.0 41.3 49.3 36.5 22.7 Note: Cost of goods sold includes selling, general, and…
The following table shows income statement and balance sheet data for five U.S. industries in 2017. INCOME STATEMENT AND BALANCE SHEET FOR 2017SELECTED U.S. INDUSTRIES FOR 2017(Figures in $ billions) Food Pharmaceuticals Oiland Coal Computers andPeripherals FoodStores Income Statement Data: Sales $ 666.9 $ 427.5 $ 802.0 $ 216.0 $ 474.2 Cost of goods sold 596.1 352.4 757.8 189.7 451.0 Balance Sheet Data: Inventory $ 67.8 $ 56.8 $ 44.2 $ 11.3 $ 27.9 Accounts receivable 56.6 68.1 52.8 23.7 7.4 Accounts payable 49.0 42.3 50.3 39.5 23.7 Note: Cost of goods sold includes selling, general, and administrative expenses. Source: U.S. Department of Commerce, Quarterly Financial Report for Manufacturing, Mining, Trade Corporations, and Selected Service Industries,…
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