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The balance sheet and income statement of a firm are shown below. Note that the firm has no amortization charges, it does not lease any

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The balance sheet and income statement of a firm are shown below. Note that the firm has no amortization charges, it does not lease any assets, and none of its debt must be retired during the next 5 years (numbers are in millions). BALANCE SHEET Cash $ 140.0 Accounts payable $ 800.0 Accts receivable 880.0 Notes payable 600.0 Inventories 1,320.0 Accruals 400.0 Total current assets $2,340.0 Total current liabilities $1,800.0 Long-term bonds 1,000.0 Total debt $2,800.0 Common stock (50,000 shares) 200.0 Retained earnings 1,000.0 Net plant & equip. 1,660.0 Total common equity $1,200.0 Total assets $4,000.0 Total liabilities & equity $4,000.0 INCOME STATEMENT Net sales Operating costs Depreciation EBIT Less: Interest EBT Less: Taxes Net income $ 6,000.0 5,599.8 100.2 S 300.0 96.0 S 204.0 51.0 S 153.0 OTHER DATA Shares outstanding (millions) Common dividends Interest rate on N/P and long-term bonds Federal plus state income tax rate Year-end stock price What is the firm's days sales outstanding? 70.00 $42.8 6.0% 25.0% $30.60

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