THE COCA-COLA COMPANY AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (In millions except par value) December 31, ASSETS Current Assets Cash and cash equivalents Short-term investments Total Cash, Cash Equivalents and Short-Term Investments Marketable securities Trade accounts receivable, less allowances of $516 and $516, respectively Inventories Prepaid expenses and other current assets Total Current Assets 2022 $9,519 1,043 10,562 1,069 3,487 4,233 3,240 22,591 2021 $9.684 1,242 10,926 1,699 3,512 3,414 2,994 22,545 For 2022, what % of Gross A/R does Coca-Cola's managment estimate they will not collect? Round to one decimal place, do not place a percentage sign in your answer. (Sample response 10.6)

THE COCA-COLA COMPANY AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (In millions except par value) December 31, ASSETS Current Assets Cash and cash equivalents Short-term investments Total Cash, Cash Equivalents and Short-Term Investments Marketable securities Trade accounts receivable, less allowances of $516 and $516, respectively Inventories Prepaid expenses and other current assets Total Current Assets 2022 $9,519 1,043 10,562 1,069 3,487 4,233 3,240 22,591 2021 $9.684 1,242 10,926 1,699 3,512 3,414 2,994 22,545 For 2022, what % of Gross A/R does Coca-Cola's managment estimate they will not collect? Round to one decimal place, do not place a percentage sign in your answer. (Sample response 10.6)

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Description: THE COCA-COLA COMPANY AND SUBSIDIARIESCONSOLIDATED BALANCE SHEETS(In millions except par value)December 31,ASSETSCurrent AssetsCash and cash equivalentsShort-term investmentsTotal Cash, Cash Equivalents and Short-Term InvestmentsMarketable securitie

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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Aa.1
THE COCA-COLA COMPANY AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (in millions except par value) December 31, ASSETS Current Assets Cash and cash equivalents Short-term investments Total Cash, Cash Equivalents and Short-Term Investments Marketable securities Trade accounts receivable, less allowances of $516 and $516, respectively Inventories Prepaid expenses and other current assets Total Current Assets 2022 $9,519 1,043 10,562 1,069 3,487 4,233 3,240 22,591 2021 $9.684 1,242 10,926 1,099 3,512 3,414 2.994 22,545 If we find out that the beverage industry estimates that for 2022 15% of Gross Receivables may not be collected, and this has been a pretty good estimate for the past couple of years. By how much is Coca Cola artificially overstating their 2022 net income? Round your answer to one decimal place. For example, an answer of $73.22 million is simply $3.2 Question 4 of 10
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