/Test Mountainside Manors, Inc., builds environmentally sensitive structures. The company's 2018 revenues totaled $2,815 miljon. At December 31, 2018, and 2017, the company had, respectively, $653 million and $598 million in current assets. The December 31, 2018, and 2017, balance sheets and income statements reported the following amounts: E: (Click the icon to view the amounts.) Read the requirements Requirement 3. Assume that beginning and ending inventories for both periods did not differ by a material amount Accounts payable at the end of 2016 was $204 milion. Calculate accounts payable turnover as a ratio and days' payable outstanding (DPO) for 2017 and 2018. Calculate current ratios for 2017 and 2018 as well Evaluate whether the company improved or deteriorated from the standpoint of its ability to cover accounts payable and current liabilities over the year. Determine the formula for the accounts payable turnover. Then complete the formula and calculate the accounts payable tumover ratios at the end of 2017 and 2018 (Enter amounts in millions.) Purchases from suppliers (or COGS) / Average accounts payable - Accounts payable tumover 2018 2.465 1 $ 145 2017 3152 145 Enter any number in the edit fields and then click Check Answer Helpon 7 parts Clear All Final Check remaining 737 3/20/200 Type here to search wwert i Data Table Ts, Inc., bui ectively. $6 co view the 2018 2017 ents. ssume that ccounts pay he company 190 100 $ 161 nula for the millions.) At year-end (In millions) Liabilities and stockholders' equity Current liabilities Accounts payable Accrued expenses Accrued employee compensation and benefits Current portion of long-term debt Total current liabilities Long-term debt Post-retirement benefits payable Other liabilitiae . ases from su 2.4 1,394 1,319 122 319 124 er in the edit1 Print Done POTPURGATUTUUUUIIIIVVII Inments Score: 1.18 of 3 pts 2 of 7 (7 complete) HW Score: 67.88%, 10.18 lomework %E8-10A (similar i Data Table Question Hel a Quiz/Test Mountainside Manors, Inc., bu company had, respectively. 56 following amounts: ! (Click the icon to view the 31, 2018, and 2017, statements reported Read the requirements Requirement 3. Assume that milion Calculate accounts pay Evaluate whether the company Accrued employee compensation and benefits Current portion of long-term debt Total current liabilities Long-term debt Post-retirement benefits payable Other liabilities 1,319 122 le end of 2016 was $204 2017 and 2018 as well For the year the end of 2017 and 2018 1,394 124 14 1,615 3,458 $ Determine the formula for the (Enter amounts in millions) Purchases from so Total stockholders' equity Total liabilities and stockholders' equity Year-end (in millions) Cost of goods sold 2018 2017 $ 1,476 3,343 $ 2.465 $ 3,152 Enter any number in the edit 7 parts Print Done remaining Final Check Type here to search $653 milli ince i Requirements the amoun that beginni s payable tu mpany improy le at atios f flities 1. Describe Wach of Mountainside Manors, Inc.'s liabilities and state how the liability arose. 2. What were the company's total assets at December 31, 2018? Assume that beginning and ending inventories for both periods did not differ by a material amount. Accounts payable at the end of 2016 was $204 million. L Calculate accounts payable turnover as a ratio and days' payable outstanding (DPO) for 2017 and 2018. Calculate current ratios for 2017 and 2018 as well. Evaluate whether the company improved or deteriorated from the standpoint of its ability to cover accounts payable and current liabilities over the year. r the account s.) atios a com suppliers 2,465 3152 Print Done ne edit fields a Clear All 0 BIS e @ 99+ 9 a, Requirement 3. Assume that beginning and ending inventories for both periods did not differ by a material amount Accounts payable at the end of 2016 was $204 million. Calculate accounts payable turnover as a ratio and days payable outstanding (DPO) for 2017 and 2018. Calculate current ratios for 2017 and 2018 as well. Evaluate whether the company improved or deteriorated from the standpoint of its ability to cover accounts payable and current liabilities over the year. Determine the formula for the accounts payable turnover. Then complete the formula and calculate the accounts payable turnover ratios at the end of 2017 and 2018 (Enter amounts in millions) Purchases from suppliers (or COGS) Average accounts payable Accounts payable furnover 2018 S 2.465 1 S 145 2017 Enter any number in the edit fields and then click Check Answer. Final Check 7 Clear All parts remaining 7:38 PM 120/2020 1 Type here to search AS O F G H J K L