calculate Verizon's 2020 Days Inventory

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
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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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