Devlin Construction, Inc., reported the following balance sheet information for the last fiscal year. Devlin also reported

Question:

Devlin Construction, Inc., reported the following balance sheet information for the last fiscal year. Devlin also reported net sales of $980,770 and days’ sales in inventory of 48.90 days.

Devlin Construction Inc.

Assets

Cash and marketable securities ................................ $ 15,032

Accounts receivable .................................................... $140,500

Inventories ................................................................... $289,809

Other current assets .................................................. $ 12,647

Total current assets ................................................... $457,988

Calculate the firm’s operating cycle.

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...

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