Question
Recent financial data for Monterey Corporation are provided below. Income Statement Revenues: Net patient service revenue $852,640 Operating Expenses: Medical services $534,000 Support services 111,000
Recent financial data for Monterey Corporation are provided below.
Income Statement Revenues:
Net patient service revenue
$852,640 Operating Expenses:
Medical services $534,000
Support services 111,000
General services 128,800
Depreciation 4,200 (778,000) Operating Income
74,640 Other Income and Expenses:
Interest income 40,000
Interest expense 74,000 (34,000) Net Income
$40,640
Balance Sheet (partial) Cash $232,000 Net receivables 185,000 Inventory 139,000 Other current assets 57,000 Total current assets $613,000
Accounts payable $211,000 Interest payable 26,000 Other current liabilities 23,000 Total current liabilities $260,000
What is Days Cash on Hand? (Round final answer to 2 decimal places, e.g., 1.23.)
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