Q2. The following data apply to Cavendish & Company in ($m) (04)

Cash & Marketable Securities $ 100

Fixed Assets $ 283.5

Sales $ 1000

Net Income $ 50

Quick Ratio 2

Current Ratio 3

Days Sales Outstanding 40 Days (assume 365 days a year)

ROE 12%

Cavendish has no preferred Sharesonly common stocks, current liabilities and Long term debt. Find Cavendishs:

1. Accounts Receivable
2. Current Liabilities
3. Current Assets
4. Total Assets Turnover