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Galaxy United, Inc. 2009 Income Statement ($ in millions) Net sales $8,500 Less: Cost of goods sold 7,190 Less: Depreciation 410 Earnings before interest and
Galaxy United, Inc. 2009 Income Statement ($ in millions) | |
Net sales | $8,500 |
Less: Cost of goods sold | 7,190 |
Less: Depreciation | 410 |
Earnings before interest and taxes | 900 |
Less: Interest paid | 82 |
Taxable Income | 818 |
Less: Taxes | 286 |
Net income | $ 531 |
Galaxy United, Inc. 2008 and 2009 Balance Sheets ($ in millions) | ||||||
2008 | 2009 | 2008 | 2009 | |||
Cash | $ 120 | $ 150 | Accounts payable | $1,110 | $1,130 | |
Accounts rec. | 940 | 780 | Long-term debt | 990 | 1,270 | |
Inventory | 1,480 | 1,520 | Common stock | $3,130 | $2,930 | |
Sub-total | $2,540 | $2,450 | Retained earnings | 500 | 730 | |
Net fixed assets | 3,190 | 3,610 | ||||
Total assets | $5,730 | $6,060 | Total liab. & equity | $5,730 | $6,060 |
What is the days' sales in receivables? (use 2009 values)
80.941.033.522.047.4
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