Question: Use the following information to answer this question. Windswept, Inc. 2017 Income Statement ($ in millions) Net sales Cost of goods sold Depreciation Earnings before
Use the following information to answer this 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 Cash Accounts rec. Inventory Total Net fixed assets Total assets Assuming all sales are on credit, what is the days' sales in receivables? 1 2:14 $9,640 7,940 470 $1,230 112. $1,118 391 $ 727 Windswept, Inc. 2016 and 2017 Balance Sheets. ($ in millions) 2016 2017 290 Accounts payable 1,060 960 Long-term debt 1,910 1,730 Common stock $3,230 $2,980 Retained earnings 3,510 4,020 $6,740 $7,000 Total liab. & equity $ 260 $ 2016 2017 $1,510 $1,735 1,150 1,325 3,440 3,050 640 890 $6,740 $7,000
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