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Review the following financial statements and answer the question below. Windswept, Inc. 2020 Income Statement (S in millions) Net sales Less: Cost of goods sold
Review the following financial statements and answer the question below. Windswept, Inc. 2020 Income Statement (S in millions) Net sales Less: Cost of goods sold Less: Depreciation Earnings before interest and taxes Less: Interest paid Taxable Income Less: Taxes Net income $8,450 7,240 400 810 70 S 740 259 S481 Windswept, Inc. 2019 and 2020 Balance Sheets (S in millions) Cash Accounts rec. Inventory Total Net fixed assets Total assets 2019 2020 $ 120 $ 140 930 780 1,480 1.520 $2,530 $2,440 3,150 3,600 S5.680 56,040 Accounts payable Long-term debt Common stock Retained earnings 2019 2020 $1,110 $1,120 840 1,210 3,200 3,000 530 710 Total liabilities & equity $5.680 96.040 In 2020, how many days on average did it take Windswept to sell its inventory? 65.2 days 12.9 days 76.6 days 39.2 days 56.6 days Review the following financial statements and answer the question below. Windswept, Inc. 2020 Income Statement (S in millions) Net sales Less: Cost of goods sold Less: Depreciation Earnings before interest and taxes Less: Interest paid Taxable Income Less: Taxes Net income $8,450 7,240 400 810 70 S 740 259 S481 Windswept, Inc. 2019 and 2020 Balance Sheets (S in millions) Cash Accounts rec. Inventory Total Net fixed assets Total assets 2019 2020 $ 120 $ 140 930 780 1,480 1.520 $2,530 $2,440 3,150 3,600 S5.680 56,040 Accounts payable Long-term debt Common stock Retained earnings 2019 2020 $1,110 $1,120 840 1,210 3,200 3,000 530 710 Total liabilities & equity $5.680 96.040 In 2020, how many days on average did it take Windswept to sell its inventory? 65.2 days 12.9 days 76.6 days 39.2 days 56.6 days
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