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Galaxy United, Inc. 2015 Income Statement ($ in millions) Net sales $8,500 Less: Cost of goods sold 7,220 Less: Depreciation 410 Earnings before interest and
Galaxy United, Inc. 2015 Income Statement ($ in millions) | |
Net sales | $8,500 |
Less: Cost of goods sold | 7,220 |
Less: Depreciation | 410 |
Earnings before interest and taxes | 870 |
Less: Interest paid | 82 |
Taxable Income | 788 |
Less: Taxes | 276 |
Net income | $ 512 |
Galaxy United, Inc. 2014 and 2015 Balance Sheets ($ in millions) | ||||||
2014 | 2015 | 2014 | 2015 | |||
Cash | $ 130 | $ 150 | Accounts payable | $1,120 | $1,140 | |
Accounts rec. | 950 | 780 | Long-term debt | 990 | 1,259 | |
Inventory | 1,480 | 1,520 | Common stock | $3,140 | $2,940 | |
Sub-total | $2,560 | $2,450 | Retained earnings | 500 | 711 | |
Net fixed assets | 3,190 | 3,600 | ||||
Total assets | $5,750 | $6,050 | Total liab. & equity | $5,750 | $6,050
|
What is the days' sales in receivables? (use 2015 values)
21.4 days
47.3 days
43.6 days
33.5 days
81.0 days
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