Assuming all sales were on account, Miami Medical's days' sales in receivables during 2018 was (Round...
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Assuming all sales were on account, Miami Medical's days' sales in receivables during 2018 was (Round intermediary calculation to the nearest whole million and intermediary ratios to two decimal places, X.XX.) A. 25 days. B. 133.5 days. C. 35 days. O D. 17.7 days. i Data Table (In Millions) Assets: Current assets Miami Medical Corporation Consolidated Statements of Financial Position Cash and cash equivalents Short-term investments Accounts and notes receivable Inventories, at cost Prepaid expense and other current assets Total current assets Property and equipment, net Investments Other non-current assets Print Done $ December 31, 2018 4,299 $ 805 3,409 452 1,687 10,652 1,575 6,589 314 10 130 S 2017 4,136 518 2,409 408 1,230 8,701 936 5,300 166 15. 103. U X Data Table Other non-current assets Total assets Liabilities and stockholder's equity: Current liabilities Accounts payable Accrued and other liabilities Total current liabilities Long-term debt Other non-current liabilities Total liabilities Stockholders' equity Preferred stock and capital in excess of $0.02 par value; shares issued and outstanding: none Common stock and capital in excess of $0.05 par value; shares authorized: 6,000; shares issued: 2,706 and 2,447, respectively Treasury stock, at cost; 184 and 125 shares, respectively Print Done $ 314 19,130 $ 7,703 $ 3,695 11,398 307 1,687 13,392 7,806 (6,202) 166 15,103 6,008 3,055 9,063 308 1,174 10,545 7,006 (4,414) Data Table Accrued and other liabilities Total current liabilities Long-term debt Other non-current liabilities Total liabilities Stockholders' equity Preferred stock and capital in excess of $0.02 par value; shares issued and outstanding: none Common stock and capital in excess of $0.05 par value; shares authorized: 6,000; shares issued: 2,706 and 2,447, respectively Treasury stock, at cost; 184 and 125 shares, respectively Retained earnings Other comprehensive loss Other Total stockholders' equity Total liabilities and stockholders' equity Print Done 3,695 11,398 307 1,687 13,392 7,806 (6,202) 4,272 (96) (42) 5,738 19,130 $ - 3,055 9,063 308 1,174 10,545 7,006 (4,414) 2,050 (32) (52) 4,558 15,103 X Data Table (In Millions, Except per Share Amounts) Net revenue Cost of goods sold Gross profit Operating expenses: Selling, general, and administrative Research, development, and engineering Special charges Total operating expenses Operating income Investment and other income (loss), net Income before income taxes Print Miami Medical Corporation Consolidated Statements of Income 2018 S Done Year ended December 31, 2017 42,544 S 35,523 S 34,004 28,893 8,540 6,630 3,747 3,375 592 554 4,339 3,929 4,201 2,701 189 199 4,390 2,900 2016 31,120 25,478 5,642 2,987 540 501 4,028 1,614 (42) 1,572 X Data Table Net revenue Cost of goods sold Gross profit Operating expenses: Selling, general, and administrative Research, development, and engineering Special charges Total operating expenses Operating income Investment and other income (loss), net Income before income taxes Income tax expense Net income Earnings per common share: Basic Print (A $ $ Done 42,544 $ 34,004 8,540 3,747 592 4,339 4,201 189 4,390 1.145 3,245 S 1.34 S 35,523 $ 28,893 6,630 3,375 554 3,929 2,701 199 2,900 925 1,975 S 0.93 $ 31,120 25,478 5,642 2,987 540 501 4,028 1,614 (42) 1,572 472 1,100 0.40 Assuming all sales were on account, Miami Medical's days' sales in receivables during 2018 was (Round intermediary calculation to the nearest whole million and intermediary ratios to two decimal places, X.XX.) A. 25 days. B. 133.5 days. C. 35 days. O D. 17.7 days. i Data Table (In Millions) Assets: Current assets Miami Medical Corporation Consolidated Statements of Financial Position Cash and cash equivalents Short-term investments Accounts and notes receivable Inventories, at cost Prepaid expense and other current assets Total current assets Property and equipment, net Investments Other non-current assets Print Done $ December 31, 2018 4,299 $ 805 3,409 452 1,687 10,652 1,575 6,589 314 10 130 S 2017 4,136 518 2,409 408 1,230 8,701 936 5,300 166 15. 103. U X Data Table Other non-current assets Total assets Liabilities and stockholder's equity: Current liabilities Accounts payable Accrued and other liabilities Total current liabilities Long-term debt Other non-current liabilities Total liabilities Stockholders' equity Preferred stock and capital in excess of $0.02 par value; shares issued and outstanding: none Common stock and capital in excess of $0.05 par value; shares authorized: 6,000; shares issued: 2,706 and 2,447, respectively Treasury stock, at cost; 184 and 125 shares, respectively Print Done $ 314 19,130 $ 7,703 $ 3,695 11,398 307 1,687 13,392 7,806 (6,202) 166 15,103 6,008 3,055 9,063 308 1,174 10,545 7,006 (4,414) Data Table Accrued and other liabilities Total current liabilities Long-term debt Other non-current liabilities Total liabilities Stockholders' equity Preferred stock and capital in excess of $0.02 par value; shares issued and outstanding: none Common stock and capital in excess of $0.05 par value; shares authorized: 6,000; shares issued: 2,706 and 2,447, respectively Treasury stock, at cost; 184 and 125 shares, respectively Retained earnings Other comprehensive loss Other Total stockholders' equity Total liabilities and stockholders' equity Print Done 3,695 11,398 307 1,687 13,392 7,806 (6,202) 4,272 (96) (42) 5,738 19,130 $ - 3,055 9,063 308 1,174 10,545 7,006 (4,414) 2,050 (32) (52) 4,558 15,103 X Data Table (In Millions, Except per Share Amounts) Net revenue Cost of goods sold Gross profit Operating expenses: Selling, general, and administrative Research, development, and engineering Special charges Total operating expenses Operating income Investment and other income (loss), net Income before income taxes Print Miami Medical Corporation Consolidated Statements of Income 2018 S Done Year ended December 31, 2017 42,544 S 35,523 S 34,004 28,893 8,540 6,630 3,747 3,375 592 554 4,339 3,929 4,201 2,701 189 199 4,390 2,900 2016 31,120 25,478 5,642 2,987 540 501 4,028 1,614 (42) 1,572 X Data Table Net revenue Cost of goods sold Gross profit Operating expenses: Selling, general, and administrative Research, development, and engineering Special charges Total operating expenses Operating income Investment and other income (loss), net Income before income taxes Income tax expense Net income Earnings per common share: Basic Print (A $ $ Done 42,544 $ 34,004 8,540 3,747 592 4,339 4,201 189 4,390 1.145 3,245 S 1.34 S 35,523 $ 28,893 6,630 3,375 554 3,929 2,701 199 2,900 925 1,975 S 0.93 $ 31,120 25,478 5,642 2,987 540 501 4,028 1,614 (42) 1,572 472 1,100 0.40
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Horngrens Financial and Managerial Accounting The Financial Chapters
ISBN: 978-0134486857
6th edition
Authors: Tracie L. Miller Nobles, Brenda L. Mattison, Ella Mae Matsumura
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