Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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

image text in transcribed
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 28100 EBIT Interest $160,700 14900 Taxable income 5145,800 Taxes 49,600 Net income 596,200 Balance Sheet Cash Accounts receivable Inventory Net fixed assets Beginning of Year End of Year 538,200 $43,700 91,400 36,150 203.900 214,600 516,100 537.950 Total assets 5849,600 $882,400 Accounts payable $136,100 Long-term debt 329,500 Common stock (51 par value) 75,000 Retained earnings 309,000 5104300 298,200 82.000 397 900 Total Liabi, & Equity 5849,600 5882,400 How many days on average does it take to sell the inventory? (Use year-end values) O 74.42 days 128.13 days 147.46 days 177.13 days 219.63 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

Technical Analysis Of Stock Trends

Authors: Robert D. Edwards, John Magee, W.H.C. Bassetti

8th Edition

0814406807, 978-0814406809

More Books

Students also viewed these Finance questions