The following partial income statement and balance sheet information (in $ millions) comes from the...
80.2K
Verified Solution
Link Copied!
Question
Accounting
The following partial income statement and balance sheet information (in $ millions) comes from the Annual Report of Saratoga Springs Co. for the year ending 12/31/2016:
Year ended 12/31/2016
Net sales
7,949
Total operating revenue
7,949
Cost of goods sold
4,767
Sales, general & administrative
1,909
Interest expense
416
Income before tax
667
Net income
458
12/31/2016
12/31/2015
Cash and cash equivalents
975
64
Receivables, net
1,010
664
Inventories
1,055
519
Land, buildings and equipment at cost, net
13,500
3,844
Total assets
16,540
5,091
Accounts payable
6,966
2,395
Total current liabilities
6,966
2,395
Long-term debt
5,591
2,221
Deferred income taxes
407
423
Total liabilities
12,964
5,039
Minority interest
1,008
0
Retained earnings
2,568
52
Total stockholders' equity
3,576
52
1. Required: Compute the average collection period for 2016 of Saratoga Springs Co. ( Round your intermediate and final answer to 1 decimal place. Use 365 days a year.
2.Compute the return on stockholders equity for 2016 of Saratoga, springs Co. ( Round your answer to 1 decimal place.)
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!