The 2016 income statements of Leggett & Platt, Inc. reports net sales of $3,749.9 million. The...
The 2016 income statements of Leggett & Platt, Inc. reports net sales of $3,749.9 million. The balance sheet reports accounts receivable, net of $486.6 million at December 31, 2016 and $520.2 million at December 31, 2015. The days sales outstanding in 2016 was: A) 49 days B) 10 days C) 44 days D) 8 days E) None of the above
Homework Answers
Days sales outstanding = Average accounts receivable / Credit sales * 365
Days sales outstanding = (($520.2+$486.6)/2) / $3,749.9 * 365
Days sales outstanding = 49 Days
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The 2016 income statements of Leggett & Platt, Inc. reports
net sales of $3,749.9 million. The...
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show work as necessary and please be neat
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show work as necessary and please be neat
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show work as necessary and please be neat
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