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Hewlett-Packard (HP) Data for the year ended December 31, 2023:ItemAmountCash and Cash Equivalents$50,000,000Accounts Receivable$40,000,000Inventory$30,000,000Net Sales$300,000,000Operating Expenses$180,000,000Requirements:Calculate...

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Accounting

Hewlett-Packard (HP)
 Data for the year ended December 31, 2023:

Item

Amount

Cash and Cash Equivalents

$50,000,000

Accounts Receivable

$40,000,000

Inventory

$30,000,000

Net Sales

$300,000,000

Operating Expenses

$180,000,000

Requirements:

  1. Calculate HP's quick ratio.
  2. Determine HP's inventory turnover ratio.
  3. Analyze the impact of accounts receivable on HP's working capital.
  4. Discuss how HP recognizes revenue from hardware and software sales.
  5. Evaluate HP's liquidity using the current ratio.
  6. Assess the importance of the Income Measurement Objective in HP’s financial analysis and strategic planning.

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