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What is the firm's days sales outstanding? Pettijohn Inc. The balance sheet and income statement shown below are for Pettijohn Inc. Note that the firm
What is the firm's days sales outstanding? Pettijohn Inc.
The balance sheet and income statement shown below are for Pettijohn Inc. Note that the firm has no amortization charges, it does not lease any assets, none of its debt must be retired during the next years, and the notes payable will be rolled over.
Balance Sheet Millions of $
Assets
Cash and securities
$
Accounts receivable
Inventories
Total current assets
$
Net plant and equipment
Total assets
$
Liabilities and Equity
Accounts payable
$
Notes payable
Accruals
Total current liabilities
$
Longterm bonds
Total liabilities
$
Common stock
Retained earnings
Total common equity
$
Total liabilities and equity
$
Income Statement Millions of $
Net sales
$
Operating costs except depr'n
$
Depreciation
$
Earnings bef int and taxes EBIT
$
Less interest
Earnings before taxes EBT
$
Taxes
$
Net income
$
Other data:
Shares outstanding millions
Common dividends
$
Int rate on notes payable & LT bonds
Federal plus state income tax rate
Yearend stock price
$
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