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2. (15 points) Colpan Inc. has $6 million Debt. You pulled the following information from Colpan's financial statements: Equity Multiplier: 5/3 Return on Equity(ROE): 17%
2. (15 points) Colpan Inc. has $6 million Debt. You pulled the following information from Colpan's financial statements: Equity Multiplier: 5/3 Return on Equity(ROE): 17% Profit Margin: 20% If 30% Colpan's sales are made on credit and on average (at any given day) its accounts receivables account is $500K, how many days does it take for Colpan to collect the credit it provides for selling its goods/services
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