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https://www.sec.gov/Archives/edgar/data/0001022079/000102207918000038/0001022079-18-000038-index.htmLinks to an external site. Use financial statements of Quest Diagnostics in fiscal year 2017 and answer the following questions: Balance Sheet: As of the

https://www.sec.gov/Archives/edgar/data/0001022079/000102207918000038/0001022079-18-000038-index.htmLinks to an external site.

Use financial statements of Quest Diagnostics in fiscal year 2017 and answer the following questions:

Balance Sheet:

As of the end of fiscal year 2017 (Dec 31, 2017),

1. What is the largest category of current assets held?

2. How much did customers owe the company at that point in time?

3. How much did the company expect to receive in cash ("realize") from those credit customers?

4. What proportion of currently outstanding receivables does Quest not expect to collect?

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions Dec. 31, 2017 Dec. 31, 2016
Assets
Cash and cash equivalents $ 137 $ 359
Accounts receivable, net of allowance for doubtful accounts of $269 and $265 as of December 31, 2017 and 2016, respectively 924 926
Inventories 95 82
Prepaid expenses and other current assets 150 155
Assets held for sale 0 9
Total current assets 1,306 1,531
Property, plant and equipment, net 1,145 1,029
Goodwill 6,335 6,000
Intangible assets, net 1,119 949
Investments in equity method investees 462 443
Other assets 136 148
Total assets 10,503 10,100
Liabilities and Stockholders' Equity
Accounts payable and accrued expenses 1,021 975
Current portion of long-term debt 36 6
Total current liabilities 1,057 981
Long-term debt 3,748 3,728
Other liabilities 663 654
Commitments and contingencies
Redeemable noncontrolling interest 80 77
Quest Diagnostics stockholders' equity:
Common stock, par value $0.01 per share; 600 shares authorized as of both December 31, 2017 and 2016; 216 shares issued as of both December 31, 2017 and 2016 2 2
Additional paid-in capital 2,612 2,545
Retained earnings 7,138 6,613
Accumulated other comprehensive (loss) income (48) (72)
Treasury stock, at cost; 81 shares and 79 shares as of December 31, 2017 and 2016, respectively (4,783) (4,460)
Total Quest Diagnostics stockholders' equity 4,921 4,628
Noncontrolling interests 34 32
Total stockholders' equity 4,955 4,660
Total liabilities and stockholders' equity $ 10,503 $ 10,100

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