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calculate Verizon's 2020 Days Inventory

calculate Verizon's 2020 Days Inventory

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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using the finanical statement information below, calculate Verizon's 2020 Days Inventory

verizon Consolidated Income Statements (In millions of dollars) Year ended Year ended Dec 31, 2020 Dec 31, 2019 Sales $ 128,292 $ 131,868 Cost of goods sold 51,201 54,726 Gross profit 77,091 77,142 Selling, general and administrative expenses Depreciation and amortization expense 31,573 29,896 16,720 16,682 Income from operations 28,798 30,564 Other expense, net 584 3,101 Interest expense 4,247 4,730 Income before income taxes 23,967 22,733 Income tax expense/(benefit) 5,619 2,945 Net income $ 18,348 $19,788
Transcribed Image Text:verizon Consolidated Income Statements (In millions of dollars) Year ended Year ended Dec 31, 2020 Dec 31, 2019 Sales $ 128,292 $ 131,868 Cost of goods sold 51,201 54,726 Gross profit 77,091 77,142 Selling, general and administrative expenses Depreciation and amortization expense 31,573 29,896 16,720 16,682 Income from operations 28,798 30,564 Other expense, net 584 3,101 Interest expense 4,247 4,730 Income before income taxes 23,967 22,733 Income tax expense/(benefit) 5,619 2,945 Net income $ 18,348 $19,788
verizon Consolidated Balance Sheets (In millions of dollars) As of As of Dec 31, 2020 $ 22,171 ASSETS Dec 31, 2019 Cash and cash equivalents $ 2,594 Accounts receivable 23,917 25,429 Inventories 1,796 1,422 Prepaid expenses and other current assets 6,710 8,028 Total current assets 54,594 37,473 Property and equipment, net | Intangible assets Other long-term assets 94,833 91,915 152,814 151,640 10,699 $ 291,727 14,240 Total assets $ 316,481 LIABILITIES & EQUITY Debt maturing within one year $ 5,889 $ 10,777 Accounts payable and accrued liabilities 20,658 21,806 Other current liabilities 13,113 12,285 Total current liabilities 39,660 44,868 Long-term debt 123,173 100,712 | Other long-term liabilities 84,376 83,312 Total liabilities 247,209 228,892 Common stock and additional paid in capital Retained earnings 13,833 13,858 60,464 53,147 Accumulated other comprehensive income (5,025) (4,170) Total shareholders' equity 69,272 62,835 Total liabilities and shareholders' equity $ 316,481 $ 291,727
Transcribed Image Text:verizon Consolidated Balance Sheets (In millions of dollars) As of As of Dec 31, 2020 $ 22,171 ASSETS Dec 31, 2019 Cash and cash equivalents $ 2,594 Accounts receivable 23,917 25,429 Inventories 1,796 1,422 Prepaid expenses and other current assets 6,710 8,028 Total current assets 54,594 37,473 Property and equipment, net | Intangible assets Other long-term assets 94,833 91,915 152,814 151,640 10,699 $ 291,727 14,240 Total assets $ 316,481 LIABILITIES & EQUITY Debt maturing within one year $ 5,889 $ 10,777 Accounts payable and accrued liabilities 20,658 21,806 Other current liabilities 13,113 12,285 Total current liabilities 39,660 44,868 Long-term debt 123,173 100,712 | Other long-term liabilities 84,376 83,312 Total liabilities 247,209 228,892 Common stock and additional paid in capital Retained earnings 13,833 13,858 60,464 53,147 Accumulated other comprehensive income (5,025) (4,170) Total shareholders' equity 69,272 62,835 Total liabilities and shareholders' equity $ 316,481 $ 291,727
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