Assume General Motors announced a quarterly profit of $119 million for 4th quarter 2022. Below is a portion of its balance sheet. Conduct a horizontal analysis of the following line items (rounding percent to nearest hundredth): LU 16-1(2) 2022 (dollars in millions) $15,980 Cash and cash equivalents Marketable securities Inventories Goodwill Total liabilities and equity 9,222 13,642 - $103,249 2021 (dollars in millions) $15,499 16,148 14,324 1,278 $144.603 Difference % CHG

Assume General Motors announced a quarterly profit of $119 million for 4th quarter 2022. Below is a portion of its balance sheet. Conduct a horizontal analysis of the following line items (rounding percent to nearest hundredth): LU 16-1(2) 2022 (dollars in millions) $15,980 Cash and cash equivalents Marketable securities Inventories Goodwill Total liabilities and equity 9,222 13,642 - $103,249 2021 (dollars in millions) $15,499 16,148 14,324 1,278 $144.603 Difference % CHG

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Assume General Motors announced a quarterly profit of $119 million for 4th quarter 2019. Below is a portion of its balance sheet. Conduct a horizontal analysis of the following line items. (Negative answers should be indicated by a minus sign. Round the "percent" answers to the nearest hundredth percent.) ****Need the answers to the "Goodwill" column***** 2019 (dollars in millions) 2018 (dollars in millions) Difference % CHG Cash and cash equivalents $15,980 $15,499 481 3.10 Marketable securities 9,222 16,148 (6,926) (42.89) Inventories 13,642 14,324 (682) (4.76) Goodwill 0 1,278 Total liabilities and equity $103,249 $144,603 (41,354) (28.60)
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Calculate average receivable turnover
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