The following table shows income statement and balance sheet data for five U.S. industries in 2017. INCOME STATEMENT AND BALANCE SHEET FOR 2017 SELECTED U.S. INDUSTRIES FOR 2017 (Figures in $ billions) Oil and Coal Computers and Peripherals Food Food Pharmaceuticals Stores Income Statement Data: $ 682.9 $ 443.5 $ 232.0 221.7 $ 490.2 467.0 Sales $ 818.0 Cost of goods sold Balance Sheet Data: 612.1 368.4 773.8 Inventory Accounts receivable Accounts payable $ 83.8 72.6 $ 72.8 84.1 $ 27.3 39.7 $ 43.9 23.4 60.2 68.8 65.0 58.3 66.3 87.5 39.7 Note: Cost of goods sold includes selling, general, and administrative expenses. Source: U.S. Department of Commerce, Quarterly Financial Report for Manufacturing, Mining, Trade Corporations, and Selected Service Industries, Quarter 3, issued December 2017. Calculate the cash cycle for each industry. (Negative amounts should be indicated by a minus sign. Use 365 days a year. Do not round intermediate calculations. Round your answers to 1 decimal place.) Computers and Peripherals Food Stores Oil Food Pharmaceuticals and Coal Cash cycle (in days)

The following table shows income statement and balance sheet data for five U.S. industries in 2017. INCOME STATEMENT AND BALANCE SHEET FOR 2017 SELECTED U.S. INDUSTRIES FOR 2017 (Figures in $ billions) Oil and Coal Computers and Peripherals Food Food Pharmaceuticals Stores Income Statement Data: $ 682.9 $ 443.5 $ 232.0 221.7 $ 490.2 467.0 Sales $ 818.0 Cost of goods sold Balance Sheet Data: 612.1 368.4 773.8 Inventory Accounts receivable Accounts payable $ 83.8 72.6 $ 72.8 84.1 $ 27.3 39.7 $ 43.9 23.4 60.2 68.8 65.0 58.3 66.3 87.5 39.7 Note: Cost of goods sold includes selling, general, and administrative expenses. Source: U.S. Department of Commerce, Quarterly Financial Report for Manufacturing, Mining, Trade Corporations, and Selected Service Industries, Quarter 3, issued December 2017. Calculate the cash cycle for each industry. (Negative amounts should be indicated by a minus sign. Use 365 days a year. Do not round intermediate calculations. Round your answers to 1 decimal place.) Computers and Peripherals Food Stores Oil Food Pharmaceuticals and Coal Cash cycle (in days)

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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Question

The following table shows income statement and balance sheet data for five U.S. industries in 2017.
INCOME STATEMENT AND BALANCE SHEET FOR 2017
SELECTED U.S. INDUSTRIES FOR 2017
(Figures in $ billions)
Oil
and Coal
Computers and
Peripherals
Food
Food
Pharmaceuticals
Stores
Income Statement Data:
$ 682.9
$ 443.5
$ 232.0
221.7
$ 490.2
467.0
Sales
$ 818.0
Cost of goods sold
Balance Sheet Data:
612.1
368.4
773.8
Inventory
Accounts receivable
Accounts payable
$ 83.8
72.6
$ 72.8
84.1
$ 27.3
39.7
87.5
$ 43.9
23.4
39.7
60.2
68.8
65.0
58.3
66.3
Note: Cost of goods sold includes selling, general, and administrative expenses.
Source: U.S. Department of Commerce, Quarterly Financial Report for Manufacturing, Mining, Trade Corporations, and Selected
Service Industries, Quarter 3, issued December 2017.
Calculate the cash cycle for each industry. (Negative amounts should be indicated by a minus sign. Use 365 days a year. Do not
round intermediate calculations. Round your answers to 1 decimal place.)
Computers
and
Oil
Food
Food
Pharmaceuticals
and Coal
Stores
Peripherals
Cash cycle (in days)

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