Griffin and Lasky, Inc. (G&L), supplies industrial automation equipment and machine tools to the automotive industry. G&L recognizes revenue on its long-term contracts over time. Customer orders have long lead times because they involve multiyear capital investment programs. Sometimes orders are canceled. Selected items from the companys financial statements follow.

($ in millions)	20X1	20X2	20X3
Sales	$	571.5		$	619.5		$	730.6
Accounts receivablebilled		141.6			94.5			147.9
Accounts receivableunbilled		104.5			249.4			202.7
Total accounts receivable		246.1			343.9			350.6
Inventory		57.4			74.8			102.3
Earnings before interest and taxes (EBIT)		74.8			75.8			38.1
Depreciation and amortization		14.8			15.4			19.3
Plant write-down		0			0			30.3

Required:

1. Compute earnings before interest, taxes, depreciation, and amortization (EBITDA) and adjusted EBITDAafter excluding the plant write-downfor each year in the schedule.
2. Are profits at G&L keeping pace with sales?
3. Compute the days receivables outstanding using year-end receivables for each year in the schedule. Assume 365 days as year.

Complete this question by entering your answers in the tabs below.

• Required 1
• Required 2
• Required 3

Compute earnings before interest, taxes, depreciation, and amortization (EBITDA) and adjusted EBITDAafter excluding the plant write-downfor each year in the schedule. (Enter dollar answers in millions of dollars. Round your answers to 1 decimal place.)

	20X1	20X2	20X3
Earnings before interest and taxes
Depreciation and amortization
EBITDA
Plant writedown
Adjusted EBITDA	$0.0	$0.0	$0.0