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what is the firm's days sales outstanding? assume a 360day year for this calculation. ...

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Question

Finance

what is the firm's days sales outstanding? assume a 360day year for this calculation.
Balance Sheet (Millions of $)


Assets
2010

Cash and securities
$1,554.0

Accounts receivable
9,660.0

Inventories
13,440.0

Total current assets
$24,654.0

Net plant and equipment
17,346.0

Total assets
$42,000.0

Liabilities and Equity


Accounts payable
$7,980.0

Notes payable
5,880.0

Accruals
4,620.0

Total current liabilities
$18,480.0

Long-term bonds
10,920.0

Total debt
$29,400.0

Common stock
3,360.0

Retained earnings
9,240.0

Total common equity
$12,600.0

Total liabilities and equity
$42,000.0




Income Statement (Millions of $)
2010

Net sales
$58,800.00

Operating costs except deprn
$54,978.0

Depreciation
$1,029.0

Earnings before int. and taxes (EBIT)
$2,793.0

Less interest
1,050.0

Earnings before taxes (EBT)
$1,743.0

Taxes
$610.1

Net income
$1,133.0

Other data:


Shares outstanding (millions)
175.00

Common dividends
$509.83

Int rate on notes payable & L-T bonds
6.25%

Federal plus state income tax rate
35%

Year-end stock price
$77.69

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