The Hopewell Pharmaceutical Company’s balance sheet and income statement for last year are as follows: Balance Sheet (in Millions of Dollars) Assets Liabilities and Equity Cash and marketable securities $1,200 Accounts payable*** $800 Accounts receivable* 1,300 Accrued liabilities Inventories** 700 (salaries and benefits) 100 Other current assets 200 Other current liabilities 900 Total current assets $3,400 Total current liabilities $1,800 Plant and equipment (net) 2,600 Long-term debt and other Other assets 1,100 liabilities 900 Total assets $7,100 Common stock 2,300 Retained earnings 2,100 Total stockholders’ equity $4,400 Total liabilities and equity $7,100 *Assume that average accounts receivable are the same as ending accounts receivable. **Assume that average inventory over the year was the same as ending inventory. ***Assume that average accounts payable are the same as ending accounts payable. Income Statement (in Millions of Dollars) Net sales $6,800 Cost of sales 1,400 Selling, general, and administrative expenses 2,500 Other expenses 900 Total expenses $4,800 Earnings before taxes 2,000 Taxes 800 Earnings after taxes (net income) $1,200 Determine Hopewell's cash conversion cycle. Assume that there are 365 days per year. Do not round intermediate calculations. Round your answer to one decimal place. days 43.7 days in wrong bc that is what i got

The Hopewell Pharmaceutical Company’s balance sheet and income statement for last year are as follows: Balance Sheet (in Millions of Dollars) Assets Liabilities and Equity Cash and marketable...

The Hopewell Pharmaceutical Company’s balance sheet and income statement for last year are as follows:

Jun 08, 2022