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Case A Dr. Popper, is a leading worldwide integrated brand owner, bottler, and distributor...

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Accounting

Case A

Dr $.$ Popper, is a leading worldwide integrated brand owner, bottler, and distributor of non $-$ alcoholic beverages.

The following represents selected data from recent financial statements of Dr $.$ Popper $($ dollars in millions $)$ :

Dr $.$ Popper

Consolidated Balance Sheets $($ partial $)$

$($ in millions $)$ December $31, 20$ x $3$ December $31, 20$ x $2$

Assets

Current assets:

Cash and cash equivalents $ $220$ $ $62$

Accounts receivable $($ net of allowances of $ $19$ and $ $26,$ respectively $) 530 540$

Consolidated Statements of Income $($ partial $)$

$($ in millions $)$ For the Year Ended December $31$

$20$ x $3 20$ x $2 20$ x $1$

Net sales $ $5, 700$ $ $5, 580$ $ $5, 578$

Net income $ $884$ $ $860$ $ $730$

Source: Dr $.$ Popper

The company also reported bad debt expense of $ $6$ million in $20$ x $3,$ $ $12$ million in $20$ x $2,$ and $ $8$ million in $20$ x $1 .$

Required:

Record the companys write $-$ offs of uncollectible accounts for $20$ x $3 .$

Assuming all sales were on credit, what amount of cash did Dr $.$ Popper collect from customers in $20$ x $3 ?$

Compute the companys net profit margin for the three years presented.

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