19.1 Cash Cycle Go to www.marketguide.com. You will need to find the most recent annual income statement and two most recent balance sheets for American Home Products (AHP) and Homestake Mining (HM). Both companies are in the S&P 500 Index. AHP is involved in pharmaceuticals and consumer health care, while Homestake Mining is a leading gold mining company. Calculate the cash cycle for each company and comment on any similarities or differences.

19.2 Operating Cycle Using the information you gathered in the previous problem, calculate the operating cycle for each company. What are the similarities or differences? Is this what you would expect from companies in each of these industries?