The company\'s income statements for the years ended December 31 credit: 2017 an
ID: 2332804 • Letter: T
Question
The company's income statements for the years ended December 31 credit: 2017 and 2016, follow. Assume that all salese For Year Ended December 31 20172016 $ 738,803 $ 583,007 Sales Cost of goods sold Other operating expenses Interest expense Income taxes Total costs and expenses Net income s 450,670 229,829 12,560 9,604 s 378,955 147,501 13,409 8,745 . 701,863 $ 36,940 $2.27 548,610 $ 34,397 $ 2.12 Earnings per share Compute days' sales uncollected. Days' Sales Uncollected I Choose Denominator / Net sales | x | Days Days' Sales Uncollected 365Days' Sales Uncollected Choose Numerator: Accounts receivable 017: 2016: s 0 days 0 days 89,900 62,400/Explanation / Answer
Accounts receivable / Net sales × 365 = Day's sales uncollected $ 89,900 / $ 738,803 × 365 = 44.41 $ 62,400 / $ 583,007 × 365 = 39.07