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PLEASE HELP?!? Mainline Produce Corporation acquired all the outstanding common stock of Iceberg Lettuce Corporation for $40,000,000 in cash. The book values and fair values
PLEASE HELP?!? Mainline Produce Corporation acquired all the outstanding common stock of Iceberg Lettuce Corporation for $40,000,000 in cash. The book values and fair values of Iceberg's assets and liabilities were as follows: Current assets Property, plant, and equipment Other assets Current liabilities Long-term liabilities Book Value $10,800,000 25,800,000 2.400.000 6,800,000 11,200,000 Fair Value $13,800,000 31.800.000 3.400.000 6,800,000 10,200,000 Required: Calculate the amount paid for goodwill. (Enter your answer in millions (l.e. 5,000,000 should be entered as 5).) Amount paid for goodwill million Assume selected financial data for Walmart and Target, two close competitors in the retail industry, are as follows: Ending Accounts Receivable (Sin millions) Walmart Target Net Sales $468,854 82.216 Beginning Necounts Receivable $6,314 6,778 $7.187 6.552 Stipped Required: 1-a. Calculate the receivables turnover ratio and average collection period for Walmart and Target (Enter your answers in millions. O not round your intermediate calculations and round your answers to 1 decimal place.) Receivables Turnover Ratio Receivables Turnover Ratio Walmart times Target Oltimes Average Collection Period Average Collection Period Walmart Target require 00 1-a. Calculate the receivables turnover ratio and average collection period for Walmart and Target. (Enter your answers in millions. Do not round your intermediate calculations and round your answers to 1 decimal place.) Receivables Turnover Ratio Receivables Tumover Ratio Skipped Walmart Target Osimes Average Collection Period Average Collection Period o days Walmart Target days 1-b. Which company maintains a higher receivables turnover? Walmart Target
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