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Use the following information to answer this question: Windswept, Incorporated ...

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Question

Finance

Use the following information to answer this question:

Windswept, Incorporated
2021 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, Incorporated
2020 and 2021 Balance Sheets
($ in millions)
2020 2021 2020 2021
Cash $ 220 $ 250 Accounts payable $ 1,350 $ 1,535
Accounts received 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 liabilities & equity $ 6,420 $ 6,700

What is the days' sales in receivables for 2021?

Multiple Choice

  • 72.39 days

  • 47.94 days

  • 36.27 days

  • 34.32 days

  • 33.85 days

Answer & Explanation Solved by verified expert
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