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You have been instructed to please use the information in the table below to answer the following question. Income Statement For the Year Net
You have been instructed to please use the information in the table below to answer the following question. Income Statement For the Year Net sales $631,000 COGS 442,220 Depreciation 28,100 EBIT Interest $160,700 14,900 Taxable income $145,800 Taxes 49,600 Net income $96,200 Balance Sheet Beginning of Year End of Year Cash $ 38,200 $43,700 Accounts receivable 91,400 86,150 Inventory 203,900 214,600 Net fixed assets 516,100 537,950 Total assets $849,600 $882,400 Accounts payable $136,100 $104,300 Long-term debt 329,500 298,200 Common stock ($1 par value) 75,000 82,000 Retained earnings 309,000 397,900 Total Liab. & Equity $849,600 $882,400 How many days on average does it take to sell the inventory? (Use year-end values) 147.46 days 219.63 days 74.42 days O 128.13 days 177.13 days
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