Problems $6-15$ EBITDA and revenue recognition $($LO$6-7)$

Griffin and Lasky, Inc. $($G&L$),$ supplies industrial automation equipment and machine tools to the automotive industry. G&L recognizes revenue on its long$-$term contracts over time. Customer orders have long lead times because they involve multiyear capital investment programs. Sometimes orders are canceled. Selected items from the company$$s financial statements follow.

$($$ in millions$)20$X$120$X$220$X$3$

Sales $ $571\mathrm{.}5$ $ $619\mathrm{.}5$ $ $730\mathrm{.}6$

Accounts receivable$$billed $141\mathrm{.}694\mathrm{.}5147\mathrm{.}9$

Accounts receivable$$unbilled $104\mathrm{.}5249\mathrm{.}4202\mathrm{.}7$

Total accounts receivable $246\mathrm{.}1343\mathrm{.}9350\mathrm{.}6$

Inventory $57\mathrm{.}474\mathrm{.}8102\mathrm{.}3$

Earnings before interest and taxes $($EBIT$)74\mathrm{.}875\mathrm{.}838\mathrm{.}1$

Depreciation and amortization $14\mathrm{.}815\mathrm{.}419\mathrm{.}3$

Plant write$-$down $0030\mathrm{.}3$

Required:

Compute earnings before interest, taxes, depreciation, and amortization $($EBITDA$)$ and adjusted EBITDA$$after excluding the plant write$-$down$$for each year in the schedule.

Are profits at G&L keeping pace with sales?

Compute the days receivables outstanding using year$-$end receivables for each year in the schedule. Assume $365$ days as year.