Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Use the following Information to answer this question. Net sales Windswept, Incorporated 2017 Income Statement Cost of goods sold Depreciation ($ in millions) Earnings
Use the following Information to answer this question. Net sales Windswept, Incorporated 2017 Income Statement Cost of goods sold Depreciation ($ in millions) Earnings before interest and taxes Interest paid Taxable income Taxes Net income $ 9,500 7,840 460 $ 1,200 108 $ 1,092 382 $ 710 Windswept, Incorporated 2016 and 2017 Balance Sheets ($ in millions) 2017 Cash Accounts receivable Inventory Total Net fixed assets 2016 $ 240 $ 270 Accounts payable $ 3,110 1,020 1,850 920 1,700 $ 2,890 Long-term debt Common stock Retained earnings 2016 $ 1,430 1,130 3,400 620 2017 $ 1,635 1,315 3,030 870 3,470 3,960 $ 6,580 $ 6,850 Total liabilities & equity $ 6,580 $ 6,850 Total assets What is the days' sales in receivables for 2017?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started