Cash to Monthly Cash Expenses RatioAmicus Therapeutics, Inc., is a biopharmaceutical company that develops drugs for the treatment of various diseases, including Parkinson'sdisease. Amicus Therapeutics reported the following financial data (in thousands) for three recent years:For Years Ended December 31Year 1Year 3Year 2Cash and cash equivalents$69,485$24,074$43,640Net cash flows from operations(100,139)(51,669)(45,794)a. Determine the monthly cash expenses for Year 3, Year 2, and Year 1 (in thousands). Round to one decimal place.Year 3:per monthYear 2:per monthper monthYear 1:b. Determine the ratio of cash to monthly cash expenses for Year 3, Year 2, and Year 1 as of December 31. Round to one decimal place.monthsYear 3:monthsYear 2:monthsYear 1:

Answered: Cash to Monthly Cash Expenses Ratio…

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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7. The Hopewell Pharmaceutical Company's balance sheet and income state- ment for last year are as follows: Balance Sheet (in Millions of Dollars) Assets Cash and marketable securities $1,100 Accounts receivable 1,300 Inventories* 800 200 Other current assets Total current assets Plant and equipment (net) Other assets Total assets $3,400 2,300 1,000 $6,700 Net sales Cost of sales Liabilities and Equity Accounts payable Accrued liabilities (salaries and benefits) Other current liabilities Earnings before taxes Taxes Earnings after taxes (net income) Total current liabilities Long-term debt and other liabilities Selling, general, and administrative expenses Other expenses Total expenses Common stock Retained earnings Total stockholders' equity Total liabilities and equity *Assume that average inventory over the year was $800 million that is, the same as ending inventory. Income Statement (in Millions of Dollars) a. Determine Hopewell's cash conversion cycle. b. Give an interpretation of…
The Hopewell Pharmaceutical Company’s balance sheet and income statement for last year are as follows: Balance Sheet (in Millions of Dollars) Assets Liabilities and Equity Cash and marketable securities $900 Accounts payable*** $900 Accounts receivable* 1,100 Accrued liabilities Inventories** 700 (salaries and benefits) 400 Other current assets 200 Other current liabilities 600 Total current assets $2,900 Total current liabilities $1,900 Plant and equipment (net) 2,700 Long-term debt and other Other assets 800 liabilities 700 Total assets $6,400 Common stock 1,300 Retained earnings 2,500 Total stockholders’ equity $3,800 Total liabilities and equity $6,400 *Assume that average accounts receivable are the same as ending accounts receivable. **Assume that average inventory over the year was the same as ending inventory. ***Assume that average accounts payable are the same…
10. The Hopewell Pharmaceutical Company's balance sheet and income statement for last year are as follows: CHALLENGE Balance Sheet (in Millions of Dollars) Assets Liabilities and Equity Cash and marketable $1,100 Accounts payable*** $900 securities Accounts receivable* 1,300 Accrued liabilities Inventories** 800 (salaries and benefits) 300 Other current assets 200 Other current liabilities 700 Total current assets $3,400 Total current liabilities $1,900 Plant and equipment (net) 2,300 Long-term debt and other Other assets 1,000 liabilities 1,000 Total assets $6,700 Common stock 1,800 Retained eamings 2,000 Total stockholders" equity $3,800 Total liabilities and equity $6,700 *Assume that average accounts receivable are the same as ending accounts receivable. **Assume that average inventory over the year was the same as ending inventory. ***Assume that average accounts payable are the same as ending accounts payable. Income Statement (in Millions of Dollars) Net sales $6,500 Cost of…
Recent Financial statements of General Mills, Inc. reported net sales of $12,442,000.000. Accounts receivaibe are $912,000,000 at the beginning of the year and $953,000,000 at the end of the year. days. (round to two decimals) General Mills average collection period for accounts receivable is
atio of Cash to Monthly Cash Expenses Financial data for Abrams Company follow: For Year EndedDecember 31 Cash on December 31 $54,270 Cash flow from operations (97,200) a. Compute the ratio of cash to monthly cash expenses. Round your answer to one decimal place.fill in the blank 1 months b. Interpret the results computed in (a).
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Days' cash on hand Financial statement data for years ending December 31 for Newton Company follow: 20Y9 20Y8 Cash (end of year) $25,500 $24,250 Short-term investments (end of year) 8,270 9,460 Operating expenses 60,135 63,780 Depreciation expense 13,225 11,400 Determine the days’ cash on hand for 20Y8 and 20Y9. Assume 365 days in a year. Round all calculations to one decimal place. Days’ Cash on Hand 20Y8: fill in the blank 1 66 days 20Y9: fill in the blank 2 days
Motorola Credit Corporation's annual report (dollars in millions) 3311 Net revenue (sales) Net earnings 170 Total assets 2,245 Total liabilities 1,929 Total stockholders' equity 316 a. Find the total debt to total assets ratio. (Round your answer to the nearest hundredth percent.) Total debt to total assets b. Find the return on equity ratio. (Round your answer to the nearest hundredth percent.) Return on equity c. Find the asset turnover ratio. (Round your answer to the nearest cent.) Asset turnover d. Find the profit margin ratio on net sales. (Round your answer to the nearest hundredth percent.) Profit margin
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January February March Sales $100,000 $121,000 $165,000 Manufacturing costs 42,000 52,000 59,000 Selling and administrative expenses 29,000 33,000 36,000 Capital expenditures 40,000 The company expects to sell about 15% of its merchandise for cash. Of sales on account, 65% are expected to be collected in full in the month following the sale and the remainder the following month. Depreciation, insurance, and property tax expense represent $8,000 of the estimated monthly manufacturing costs. The annual insurance premium is paid in June, and the annual property taxes are paid in October. Of the remainder of the manufacturing costs, 80% are expected to be paid in the month in which they are incurred and the balance in the following month. All sales and administrative expenses are paid in the month incurred. Current assets as of January 1 include cash of $38,000, marketable securities of $54,000, and accounts receivable of $116,000 ($88,000 from December sales and $28,000 from November…

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