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Save Green Domes, Inc., builds envires company had, respectively, $ 6 5 1 million and $ 5 9 6 million in current assets. The December
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Green Domes, Inc., builds envires company had, respectively, $ million and $ million in current assets. The December and balance sheets and income statements reported the following amounts:
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Read the requirements.
Requirement What were the company's total assets at December
The total assets at December were
$ million.
Requirement Assume that beginning and ending inventories for both periods did not differ by a material amount. Accounts payable at the end of as $ million. Calculate accounts payable turnover as a ratio and days' payable outstanding DPO for and Calculate current ratios for and 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.
Determine the formula for the accounts payable turnover. Then complete the formula and calculate the accounts payable turnover ratios at the end of and Enter amounts in millions.
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