FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Parker Company has provided the following data for the most recent year: net operating income, $53,500; fixed expense, $89,000; sales, $190,000; and CM ratio, 75%. What is the company's total contribution margin? a. $161,000 b. $101,000 c. $142,500 d. $190,000 Your boss asks you to compute the company's cash conversion cycle. Looking at the financial statements, you see that the average inventory for the year was $126,300, accounts receivable were $97,900, and accounts payable were at $115,100. You also see that the company had sales of $324,000 and that cost of goods sold was $282,000. What is your firm's cash conversion cycle? Round to the nearest day.
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Transcribed Image Text:Parker Company has provided the following data for the most recent year: net operating income, $53,500; fixed expense, $89,000; sales, $190,000; and CM ratio, 75%. What is the company's total contribution margin? a. $161,000 b. $101,000 c. $142,500 d. $190,000 Your boss asks you to compute the company's cash conversion cycle. Looking at the financial statements, you see that the average inventory for the year was $126,300, accounts receivable were $97,900, and accounts payable were at $115,100. You also see that the company had sales of $324,000 and that cost of goods sold was $282,000. What is your firm's cash conversion cycle? Round to the nearest day.
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