Hewlett-Packard (HP)
 Data for the year ended December 31, 2023:

Item	Amount
Cash and Cash Equivalents	$50,000,000
Accounts Receivable	$40,000,000
Inventory	$30,000,000
Net Sales	$300,000,000
Operating Expenses	$180,000,000

Requirements:

1. Calculate HP's quick ratio.
2. Determine HP's inventory turnover ratio.
3. Analyze the impact of accounts receivable on HP's working capital.
4. Discuss how HP recognizes revenue from hardware and software sales.
5. Evaluate HP's liquidity using the current ratio.
6. Assess the importance of the Income Measurement Objective in HP’s financial analysis and strategic planning.