Windswept, Inc. 2017 Income Statement ($ in millions) Net sales Cost of goods so

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 $8,950 7,490 425 $1,035 94 $ 941 329 $612 Windswept, Inc. 2016 and 2017 Balance Sheets $ in millions) 2016 2017 2016 2017 $170 200 Accounts payable 880 Cash Accounts rec. Inventory Total Net fixed assets Total assets $ 1150 $ 1,285 1,280 3,260 2,960 800 780 Long-term debt 1,595 Common stock 2,575 Retained earnings 1,060 1,640 3,330 6,020 6,325 Total liab.&equity $ 2,690 550 3,750 6,020 6,325 What is the days' sales in receivables for 2017? O 62.62 days O 31.81 days O 31.37 days O 45.01 day's O 33.85 days

Explanation / Answer

Days Sales in Receivales = (Accounts Receivable / Annual Sales) * 365

Days Sales in Receivales = ( 780 / 8950) * 365

Days Sales in Receivales = 31.81 days Option B

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