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Use the following information to answer this question. Clinton, Inc. 2019 Income Statement ($ in millions) Net sales $ 9,670 Cost of goods sold 7,860
Use the following information to answer this question.
Clinton, Inc. 2019 Income Statement ($ in millions) | |||
Net sales | $ | 9,670 | |
Cost of goods sold | 7,860 | ||
Depreciation | 475 | ||
Earnings before interest and taxes | $ | 1,335 | |
Interest paid | 108 | ||
Taxable income | $ | 1,227 | |
Taxes | 429 | ||
Net income | $ | 798 | |
Clinton, Inc. 2018 and 2019 Balance Sheets ($ in millions) | |||||||||||||
2018 | 2019 | 2018 | 2019 | ||||||||||
Cash | $ | 250 | $ | 280 | Accounts payable | $ | 1,450 | $ | 1,435 | ||||
Accounts rec. | 1,040 | 940 | Long-term debt | 1,120 | 1,320 | ||||||||
Inventory | 1,870 | 1,725 | Common stock | 3,380 | 3,310 | ||||||||
Total | $ | 3,160 | $ | 2,945 | Retained earnings | 660 | 910 | ||||||
Net fixed assets | 3,450 | 4,030 | |||||||||||
Total assets | $ | 6,610 | $ | 6,975 | Total liab. & equity | $ | 6,610 | $ | 6,975 | ||||
What is the days' sales in receivables for 2019?
Multiple Choice
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(expression error) days
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.83 days
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1.20 days
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1.86 days
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2.05 days
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