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Geodesic Domes, Inc., builds environmentally sensitive structures. The company's $2021$ revenues totaled $$2,795$ million. At December $31,2021,$ and $2020,$ the company had, respectively, $$657$ Data table Requirements

Describe each of Geodesic Domes, Inc.$\text{'}$s liabilities and state how the liability

arose.

What were the company's total assets at December $31,2021?$

Assume that beginning and ending inventories for both periods did not differ

by a material amount. Accounts payable at the end of $2019$ was $$210$ million.

Calculate accounts payable turnover as a ratio and days' payable

outstanding $($DPO$)$ for $2020$ and $2021.$ Calculate current ratios for $2020$ and

$2021$ as well. Evaluate whether the company improved or deteriorated from

the standpoint of its ability to cover accounts payable and current liabilities

over the year.

million and $$607$ million in current assets. The December $31,2021,$ and $2020,$ balance sheets and income statements reported the following amounts:

$($Click the icon to view the amounts.$)$

Read the requirements.

Long$-$term debt

The amount of long$-$term notes and bonds payable that the company expects to pay after the coming year.

Other liabilities

A catch$-$all group of liabilities that do not fit one or more specific categories. This is usually listed among the long$-$term liabilities.

Accounts payable

Amounts owed to suppliers for products or services that have been purchased on account.

Accrued employee compensation and benefits

Amounts owed to employees for salaries and other payroll$-$related expenses.

Post$-$retirement benefits

Current portion of long$-$term debt

Accrued expenses

Amounts owed for providing benefits to retirees such as health care costs.

The next year's payments on the company's long$-$term debt.

Expenses that the company has incurred but not yet paid; these are liabilities for expenses such as interest and income taxes.

Requirement $2.$ What were the company's total assets at December $31,2021?$

The total assets at December $31,2021$ were

million.

Requirement $3.$ Assume that beginning and ending inventories for both periods did not differ by a material amount. Accounts payable at the end of $2019$ was $$210$ million. Calculate accounts

payable turnover as a ratio and days' payable outstanding $($DPO$)$ for $2020$ and $2021.$ Calculate current ratios for $2020$ and $2021$ as well. Evaluate whether the company improved or deteriorated from

the standpoint of its ability to cover accounts payable and current liabilities over the year.

Determine the formula for the accounts payable turnover. Then complete the formula and calculate the accounts payable turnover ratios at the end of $2020$ and $2021.($Enter amounts in millions.$)$

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