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You gather the following information from company Xella: Accounts Receivable Turnover = 5, Total Sales = 523 mil. Euro, Cash and Marketable Securities = 12
You gather the following information from company "Xella": Accounts Receivable Turnover = 5, Total Sales = 523 mil. Euro, Cash and Marketable Securities = 12 mil. Euro, Accounts Payable = 51 mil. Euro, Days in Inventory = 40 days (consider a year of 360 days), Notes Payable = 74 mil. Euro, Cost of Goods Sold = 297 mil. Euro. What is the level of its net working capital?
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