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Mgmt 200 Spring 2011 Homework 3 solution

Mgmt 200 Spring 2011 Homework 3 solution - LAST NAME FIRST...

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LAST NAME : _____________ F IRST NAME ______________PUID_________________ Please write your name in BLOCK letters and in the format: Last name, First name. Management 200 – Introductory Financial Accounting– Spring 2011 Krannert School of Management - Purdue University Homework 3 – due Wednesday, March 9, 2011 - SOLUTION IMPORTANT: This homework must be turned in on this sheet of pages (please staple). It is preferred that you print it out two-sided if at all possible. Assignments not completed on this form will not be graded. The grade for this assignment will be based on the correctness of a partial portion of the assignment – the full assignment will not be graded. Please print your name and PUID clearly and legibly in the spaces above. Refer to the attached Income Statement and Balance Sheet for Take-Two Interactive Software, Inc. (TTWO), for the year ended October 31, 2009. Take-Two Interactive Software, Inc. was incorporated in the state of Delaware in 1993. They are a leading global publisher, developer and distributor of interactive entertainment software, hardware and accessories. Their titles include Grand Theft Auto, NBA 2K10, Borderlands , and others. Additional balance sheet information as at the prior year-end (October 31, 2007) is as follows (in thousands): 2007 Inventories $99,331 Accounts receivable, net $104,937 Required: a. Write out the equation for and compute the accounts receivables turnover ratio for the year ended October 31, 2008 AND for the year ended October 31, 2009.
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