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Mandesa, Inc. has current liabilities of $10,000,000, current ratio of 1.8 times, inventory turnover of 10 times, average collection period of 50 days, and credit
Mandesa, Inc. has current liabilities of $10,000,000, current ratio of 1.8 times, inventory turnover of 10 times, average collection period of 50 days, and credit sales of $66,000,000. Calculate the value of cash and marketable securities. (Use 365 days a year. Do not round your intermediate calculations. Round your final answer to the nearest dollar amount.) Cash and marketable securities
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