Question
Given the following financial statements for GM, what is the A/P in days? (Round your answer to the nearest whole day.) General Motors: Income Statement
Given the following financial statements for GM, what is the A/P in days? (Round your answer to the nearest whole day.)
General Motors: Income Statement | 12/31/14 | |||
Total Revenue | 155,929,000 | |||
Cost of Revenue | 142,121,000 | |||
Gross Profit | 13,808,000 | |||
|
| |||
Operating Expenses |
| |||
Selling, General and Administrative | 12,158,000 | |||
Non-Recurring | 120,000 | |||
Operating Income or Loss | 1,530,000 | |||
Net Income | 3,949,000 | |||
|
| |||
General Motors: Balance Sheet | 12/31/14 | |||
Cash And Cash Equivalents | 20,292,000 | |||
Short-Term Investments | 9,222,000 | |||
Net Receivables | 35,366,000 | |||
Inventory | 13,642,000 | |||
Other Current Assets | 5,148,000 | |||
Total Current Assets | 83,670,000 | |||
Long-Term Investments | 24,356,000 | |||
Property, Plant, and Equipment | 34,803,000 | |||
Goodwill | 1,427,000 | |||
Intangible Assets | 4,983,000 | |||
Other Assets | 3,024,000 | |||
Deferred Long-Term Asset Charges | 25,414,000 | |||
Total Assets | 177,677,000 | |||
|
| |||
Current Liabilities |
| |||
Accounts Payable | 50,713,000 | |||
Short/Current Long-Term Debt | 14,988,000 | |||
Total Current Liabilities | 142,220,000 | |||
Long-Term Debt | 31,853,000 | |||
Other Liabilities | 44,099,000 | |||
Minority Interest | 567,000 | |||
Total Liabilities | 142,220,000 | |||
|
| |||
Stockholders' Equity |
| |||
Common Stock | 16,000 | |||
Retained Earnings | 14,577,000 | |||
Capital Surplus | 28,937,000 | |||
Other Stockholder Equity | -8,073,000 | |||
Total Stockholder Equity | 35,457,000 |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started