The following partial income statement and balance sheet information (in $ millions) comes from the...
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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.)
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