Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Use the following information to answer this QUeson. Windswept, Incorporated 2021 Income Statement J ($ in millions) Net sales Cost of goods sold 7,990 Depreciation

image text in transcribed
Use the following information to answer this QUeson. Windswept, Incorporated 2021 Income Statement J ($ in millions) Net sales Cost of goods sold 7,990 Depreciation 475 Eamings before interest and taxes$ 1,245 Interest paid 114 Taxable income $ 1,131 Taxes 396 Net income 55 735 Windswept, Incorporated 2020 and 2021 Balance Sheets ($ in millions) $ 9,710 2020 2021 2020 2021 Cash $ 270 $300 Accounts payable $ 1.550 $ 1,785 Accounts received 1.080 980 Long-term debt 1,160 1,330 Inventory 1,940 1,745 Common stock 3,460 3,060 Total $ 3,290 $ 3,025 Retained earnings 650 900 Net xed assets 3,530 4,050 Total assets $ 6,820 $ 7,075 Total liabilities & equity $ 6,820 $ 7,075 What is the days' sales in receivables for 2021? 0 36,84 days 0 5056 days 0 3633 days 0 8154 days 0 38.72 days .7

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

College Accounting A Practical Approach

Authors: Jeffrey Slater, Mike Deschamps

14th Edition

0134729315, 978-0134729312

Students also viewed these Accounting questions

Question

Briefly discuss Aristotles approach to dreaming.

Answered: 1 week ago