Question
Consider the following financial statement information for the Sourstone Corporation: Item Beginning Ending Inventory $7,203 $9,041 Accounts receivable 3,069 3,995 Accounts payable 3,617 4,599 Net
Consider the following financial statement information for the Sourstone Corporation:
Item Beginning Ending
Inventory $7,203 $9,041
Accounts receivable 3,069 3,995
Accounts payable 3,617 4,599
Net sales $95,982
Cost of goods sold 59,814
Assume all sales are on credit. Calculate the operating and cash cycles.
Operating Cycle ________ days
Cash Cycle ________ days
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Financial Management for Public, Health and Not-for-Profit Organizations
Authors: Steven A. Finkler, Daniel L. Smith, Thad D. Calabrese, Robert M. Purtell
5th edition
1506326846, 9781506326863, 1506326862, 978-1506326849
