please answer within the format by providing formula the detailed workingPlease provide answer in text (Without image)Please provide answer in text (Without image)Please provide answer in text (Without image) The following table presents selected 2020 annual income statement items and balance sheet items for Toyota Motor and Apple. Allfigures are in millions. Use the information to answer the questions that follow.SalesCost of goods soldAccounts receivable.InventoryAccounts payableToyotaY 28,734,78024,532,364a. operating cycle cash conversion cycleb, cash conversion cycle conversion cycle8,710,0652,435,4182,435,380ToyotaApple$ 275,015a. Calculate the length of the operating cycle for Toyota and Apple.b. Calculate the length of the cash conversion cycle for Toyota and Apple.Note: Negative value should be indicated by parentheses. Round your answers to 1 decimal place.Appledaysdays170,05916,6204,56142,796daysdays

In this question, we will calculate the Toyota and Apple company operating cycle and cash conversion…

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The following table presents selected 2020 annual income statement ite figures are in millions. Use the information to answer the questions that f

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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please answer within the format by providing formula the detailed working
Please provide answer in text (Without image)
Please provide answer in text (Without image)
Please provide answer in text (Without image)

The following table presents selected 2020 annual income statement items and balance sheet items for Toyota Motor and Apple. All
figures are in millions. Use the information to answer the questions that follow.
Sales
Cost of goods sold
Accounts receivable.
Inventory
Accounts payable
Toyota
Y 28,734,780
24,532,364
a. operating cycle cash conversion cycle
b, cash conversion cycle conversion cycle
8,710,065
2,435,418
2,435,380
Toyota
Apple
$ 275,015
a. Calculate the length of the operating cycle for Toyota and Apple.
b. Calculate the length of the cash conversion cycle for Toyota and Apple.
Note: Negative value should be indicated by parentheses. Round your answers to 1 decimal place.
Apple
days
days
170,059
16,620
4,561
42,796
days
days

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