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Find what is the days sales in receivables

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Reference no: EM132625994

Use the following information to answer this question.

Windswept, Inc.

2017 Income Statement

($ in millions)

Net sales$9,360

Cost of goods sold 7,740

Depreciation 450

Earnings before interest and taxes $1,170

Interest paid 104

Taxable income $1,066

Taxes 373

Net income $693

Windswept, Inc.
2016 and 2017 Balance Sheets

2016 2017
Cash $220  $250 
Accounts payable $1,350  $1,535 
Accounts rec. 980  880 
 Long-term debt 1,110 1,305 
Inventory 1,790  1,670
Common stock 3,360   3,010 
Total $2,990  $2,800 
Retained earnings 600  850 
Net fixed assets 3,430  3,900   
Total assets $6,420  $6,700
Total liab. & equity $6,420  $6,700 

Problem 1: What is the days' sales in receivables for 2017?

Multiple Choice

Option 1: 72.39 days

Option 2: 34.32 days

Option 3: 36.27 days

Option 4: 33.85 days

Option 5: 47.94 days

Reference no: EM132625994

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