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Use the following information to answer this question. Windswept, Inc. 2017 Income Statement ($ in millions) Net sales $ 9,500 Cost of goods sold 7,840
Use the following information to answer this question.
| Windswept, Inc. 2017 Income Statement ($ in millions) | |||
| Net sales | $ | 9,500 | |
| Cost of goods sold | 7,840 | ||
| Depreciation | 460 | ||
| Earnings before interest and taxes | $ | 1,200 | |
| Interest paid | 108 | ||
| Taxable income | $ | 1,092 | |
| Taxes | 382 | ||
| Net income | $ | 710 | |
| Windswept, Inc. 2016 and 2017 Balance Sheets ($ in millions) | |||||||||||||
| 2016 | 2017 | 2016 | 2017 | ||||||||||
| Cash | $ | 240 | $ | 270 | Accounts payable | $ | 1,430 | $ | 1,635 | ||||
| Accounts rec. | 1,020 | 920 | Long-term debt | 1,130 | 1,315 | ||||||||
| Inventory | 1,850 | 1,700 | Common stock | 3,400 | 3,030 | ||||||||
| Total | $ | 3,110 | $ | 2,890 | Retained earnings | 620 | 870 | ||||||
| Net fixed assets | 3,470 | 3,960 | |||||||||||
| Total assets | $ | 6,580 | $ | 6,850 | Total liab. & equity | $ | 6,580 | $ | 6,850 | ||||
What is the days' sales in receivables for 2017?
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Advanced Accounting
Authors: Joe Hoyle, Thomas Schaefer, Timothy Doupnik
10th edition
0-07-794127-6, 978-0-07-79412, 978-0077431808
