QUESTION $4$

The financial information of your company is as shown in the balance sheet and profit and income statement as shown below. Answer part a$,$ b$,$ c and d based on the given information.

BALANCE SHEET

ASSETS

CURRENT ASSETS

Cash

Accounts Receivable $-$ Trade

Accounts Receivable $-$ Retention

Inventory

Costs and Profits in Excess of Billings

Notes Receivable

Prepaid Expenses

Other Current Assets

Total Current Assets

Current Year Last Year

$\backslash$table$[[118,626,78,470],[243,300,171,734],[12,905,12,929],[0,0],[17,507,10,562],[6,441,0],[3,398,2,463],[6,228,3,792],[408,405,279,950]]$

FIXED AND OTHER ASSETS

Land

Buildings

Construction Equipment

Trucks and Autos

Office Equipment

Total Fixed Assets

Less Acc. Depreciation

Net Fixed Assets

Other Assets

Total Assets

$\backslash$table$[[000,46,000],[60,006,60,006],[56,727,56,727],[31,159,31,159],[35,193,35,193],[229,085,229,085],[133,314,112,393],[95,771,116,692],[110,{345}_{?},115,952],[14\mathrm{.}521,512]]$

LIABILITIES

Current Liabilities

Accounts Payable $-$ Trade

Accounts Payable $-$ Retention

Billings in Excess of Costs and Profits

Notes Payable

Accrued Payables

Accrued Taxes

Accrued Vacation

Other Current Liabilities

Total Current Liabilities

Long$-$Term Liabilities

Total Liabilities

$\backslash$table$[[191,046,142,789],[14,945,10,159],[2,961,7,935],[8,330,13,293],[9,278,11,394],[6,294,4,985],[1,960,1,802],[16,973,23,863],[251,787,216,220],[81,668,49,781],[333,455,266,001]]$

OWNER'S EQUITY

Capital Stock

Retained Earnings

Current Period Net Income

Total Equity

Total Liabilities and Equity

$\backslash$table$[[10,000,10,000],[271,066,236,593],[0,0],[281,066,246,593],[614,521,512,594]]$

$2,225,379$

$414,840$

$564,783$

$932,250$

$68,506$

$2,761$

$1,983,140$

$21,654$

$18,203$

$10,805$

$16,982$

$862$

$68,{506}_{?}$

$0$

$242,239$

$207,805$

$34,{434}_{?}$

$7,813$

$42,{247}_{?}$

$7,774$

$34,{473}_{?}$

a$)$ How long $($how many days$)$ on average does your company able to collect the money from the client?

$(10$ marks$)$

b$)$ How long $($how many days$)$ on average does your company pay the accounts payable due to suppliers and subcontractors.

$(10$ marks$)$

c$)$ Based on your above findings, a$)$ and b$),$ What insight of the company's financial operations does this information give you?

$(10$ marks$)$