Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Use the following information to answer this question. Windswept, Inc. 2017 Income Statement ($ in millions) Net sales Cost of goods sold Depreciation Earnings before

image text in transcribedimage text in transcribed

Use the following information to answer this question. Windswept, Inc. 2017 Income Statement ($ in millions) Net sales Cost of goods sold Depreciation Earnings before interest and taxes Interest paid Taxable income Taxes Net income $8,650 7,340 410 $ 900 88 $ 284 812 $ 528 2017 Cash Accounts rec. Inventory Windswept, Inc. 2016 and 2017 Balance Sheets ($ in millions) 2016 2017 $ 140 $ 170 Accounts payable 820 720 Long-term debt 1,550 1,550 Common stock $2,510 $2,440 Retained earnings 3,270 3,660 $5,780 $6,100 Total liab. & equity 2016 $1,030 $1,135 1,030 1,265 3,200 2,930 520 770 Total Net fixed assets Total assets $5,780 $6, 100 What is the days' sales in receivables for 2017? Multiple Choice 43.08 days 30.38 days 32.49 days 29.97 days 56.44 days

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_2

Step: 3

blur-text-image_3

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

Sport Finance

Authors: Gil Fried, Timothy D. DeSchriver, Michael Mondello

4th Edition

1492559733, 978-1492559733

More Books

Students also viewed these Finance questions

Question

=+d) Perform the ANOVA and report your conclusions.

Answered: 1 week ago

Question

Discuss the six purposes of performance management. page 340

Answered: 1 week ago