University of the Cumberlands Marshall Whitson and Fontana Essay
This assignment is due in 18 hrs. Kindly show all the workings and provide corect answers. Format is not required but you can use if you want.
1) Marshall Inc. recently hired your consulting firm to improve the company’s performance. It has
been highly profitable but has been experiencing cash shortages due to its high growth rate. As
one part of your analysis, you want to determine the firm’s cash conversion cycle. Using the
following information and a 365-day year, what is the firm’s present cash conversion cycle?
Average inventory =
Annual sales =
Annual cost of goods sold =
Average accounts receivable =
Average accounts payable =
$75,000
$600,000
$360,000
$160,000
$25,000
2) Frosty Corporation has the
following data, in thousands.
Assuming a 365-day year, what
is the firm’s cash conversion
cycle?
Annual sales =
Annual cost of goods sold
=
Inventory =
Accounts receivable =
Accounts payable =
$45,000
$31,500
$4,000
$2,000
$2,400
3) Whitson Co. is looking for ways
to shorten its cash conversion
cycle. It has annual sales of
$36,500,000, or $100,000 a day
on a 365-day basis. The firm’s
cost of goods sold is 75% of
sales. On average, the company
has $9,000,000 in inventory and
$8,000,000 in accounts
receivable. Its CFO has
proposed new policies that
would result in a 20% reduction
in both average inventories and
accounts receivable. She also
anticipates that these policies
would reduce sales by 10%,
while the payables deferral
period would remain unchanged
at 35 days. What effect would
these policies have on the
company’s cash conversion
cycle? Round to the nearest
whole day.
4) Fontana Painting had the
following data for the most
recent year (in millions). The
new CFO believes that the
company could improve its
working capital management
sufficiently to bring its NWC
and CCC up to the benchmark
companies’ level without
affecting either sales or the costs
of goods sold. Fontana finances
its net working capital with a
bank loan at an 8% annual
interest rate, and it uses a 365day year. If these changes had
been made, by how much would
the firm’s pre-tax income have
increased?
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