question 5

chapter 8 (my lab)

Part 1 of 15 O Points: 0 of 2 @ Save Friendly Planet, Inc, builds environmentally sensitive structures. The company's 2021 revenues totaled $2,785 million Al December 31, 2021, and 2020, the company had respectively. 564 million and minin Current assets, The December 31, 2021. and 2020, balance sheets and income statements reported the following mount (Cick the loon to view the amounts Read the requirements Requirement 1. Describe each of Friendly Prestation and state how the ability rose Choose the collabtity from the list that best is the description provided. The amount of long-tools and bonds payable that the company expects to pay after the coming year, Sarah Data table - X 2021 2020 At year-end (In millions) Liabilities and stockholders' equity Current liabilities Accounts payable $ 146 $ 188 Accrued expenses 107 171 32 28 11 11 296 398 Accrued employee compensation and benefits Current portion of long-term debt Total current liabilities Long-term debt Post-retiremedt benefits payable Other liabilities 1,497 1,312 112 120 19 24 2,112 Total stockholders' equity 1,787 S 4,041 $ 3,636 Total liabilities and stockholders' equity Year-end (in millions) Cost of goods sold $ 1,837 $ 1.330 Print Done - X Requirements 1. Describe each of Friendly Planet, Inc.'s liabilities and state how the liability arose. 2. 3. What were the company's total assets at December 31, 2021? Assume that beginning and ending inventories for both periods did not differ by a material amount. Accounts payable at the end of 2019 was $192 million. Calculate accounts payable tumover as a ratio and days' payable outstanding (DPO) for 2020 and 2021. Calculate current ratios for 2020 and 2021 as well. Evaluate whether the company improved or deteriorated from the standpoint of its ability to cover accounts payable and current liabilities over the year. Print Done