9. HV's P&L was created using accrual accounting. If HV used cash accounting, and their accounts payable increased by $10,000 and their accounts receivable increased by $20,000, what would their cash profit be? (Hint: recall that in cash accounting, expenses aren't counted until you write the check for them, and sales aren't counted until the customer pays for them. How does this change HV's income and expenses?] 10. Another way of looking at profitability for a company is to calculate their NOPAT: net operating profit after taxes. Since we know what "operating profit" is, we should be able to calculate NOPAT for HV. What is HV's NOPAT for 2017? Based on what is left out of the NOPAT calculation (interest expenses), what does NOPAT tell us and why would we be interested in it? 9. HV's P&L was created using accrual accounting. If HV used cash accounting, and their accounts payable increased by $10,000 and their accounts receivable increased by $20,000, what would their cash profit be? (Hint: recall that in cash accounting, expenses aren't counted until you write the check for them, and sales aren't counted until the customer pays for them. How does this change HV's income and expenses?] 10. Another way of looking at profitability for a company is to calculate their NOPAT: net operating profit after taxes. Since we know what "operating profit" is, we should be able to calculate NOPAT for HV. What is HV's NOPAT for 2017? Based on what is left out of the NOPAT calculation (interest expenses), what does NOPAT tell us and why would we be interested in it