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Use the following information to answer this question. Thomas Company 2017 Income Statement ($ in millions) Net sales Cost of goods sold Depreciation $9,530
Use the following information to answer this question. Thomas Company 2017 Income Statement ($ in millions) Net sales Cost of goods sold Depreciation $9,530 7,760 465 Earnings before interest and taxes $ 1,305 Interest paid Taxable income Taxes Net income Thomas Company 2016 and 2017 Balance Sheets ($ in millions) 104 $1,201 420 $ 781 2016 2017 2016 2017 Cash $ 230 $ 260 Accounts payable $ 1,370 $ 1,385 Accounts rec. 1,000 900 Long-term debt 1,100 1,300 Inventory 1,810 1,695 Common stock 3,340 3,250 Total $ 3,040 $ 2,855 Retained earnings 640 890 Net fixed assets 3,410 3,970 Total assets S 6.450 $ 6,825 Total liab. & equity $ 6.450 $ 6,825 What is the days' in inventory for 2017? 69.45 days 79.73 days 65.74 days 88.54 days 74.12 days
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