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General Electric Data for the year ended December 31, 2023:ItemAmountCash and Cash Equivalents$40,000,000Accounts Payable$20,000,000Inventory$25,000,000Net Sales$300,000,000Operating Expenses$150,000,000Requirements:Calculate...

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Question

Accounting

General Electric
 Data for the year ended December 31, 2023:

Item

Amount

Cash and Cash Equivalents

$40,000,000

Accounts Payable

$20,000,000

Inventory

$25,000,000

Net Sales

$300,000,000

Operating Expenses

$150,000,000

Requirements:

  1. Calculate General Electric's current ratio.
  2. Determine General Electric's inventory turnover ratio.
  3. Analyze the impact of accounts payable on General Electric's working capital.
  4. Discuss how General Electric recognizes revenue from industrial sales.
  5. Evaluate General Electric's liquidity using the quick ratio.
  6. Explain the role of the Income Measurement Objective in General Electric’s financial analysis and decision-making process.

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