This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Scenario: Pettijohn Inc.The balance sheet and income statement shown below are for Pettijohn Inc. ... (Read 69 times)

kmcolvin

  • Full Member
  • ***
  • Posts: 140
on: Aug 7, 2023

​

Scenario: Pettijohn Inc.

The balance sheet and income statement shown below are for Pettijohn Inc. Note that the firm has no amortization charges, it does not lease any assets, none of its debt must be retired during the next 5 years, and the notes payable will be rolled over.       

​

Balance Sheet (Millions of $)

2020

Assets

​

Cash and securities

$2,305.0

Accounts receivable

8,950.0

Inventories

16,200.0

Total current assets

27,455.0

Net plant and equipment

21,545.0

Total assets

$49,000.0

Liabilities and Equity

Accounts payable

$8,100.0

Notes payable

6,700.0

Accruals

5,300.0

Total current liabilities

20,100.0

Long-term bonds

10,900.0

Total debt

31,000.0

Common shares

7,370.0

Retained earnings

10,630.0

Total common equity

18,000.0

Total liabilities and equity

$49,000.0

Income Statement (Millions of $)

2020

Net sales

$69,500.0

Operating costs except depr’n

62,850.0

Depreciation

1,250.0

Earnings before interest and taxes (EBIT)

5,400.0

Less interest

1,232.0

Earnings before taxes (EBT)

4,168.0

Taxes

1375.4

Net income

$2,792.6

Other data:

Shares outstanding (millions)

200

Common dividends

$730

Interest rate on notes payable & L-T bonds

7%

Federal plus provincial income tax rate

33%

Year-end stock price

$88.50



Refer to Scenario: Pettijohn Inc. What is the firm’s days sales outstanding? Assume a 360-day year for this calculation.

◦

46.36


◦

47.28


◦

48.05


◦

49.00

Financial Management: Theory and Practice ¦ Brigham, Ehrhardt, Gessaroli, Nason ¦ 4th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by kmcolvin on Aug 7, 2023

Hamad

  • Full Member
  • ***
  • Posts: 163
Reply #1 on: Aug 7, 2023
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 50% of students answer this correctly


kmcolvin

  • Member
  • Posts: 140
Reply 2 on: Aug 7, 2023
YES! Correct, THANKS for helping me on my review

recede

  • Member
  • Posts: 315
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

Long-term mental and physical effects from substance abuse include: paranoia, psychosis, immune deficiencies, and organ damage.

Did you know?

Complications of influenza include: bacterial pneumonia, ear and sinus infections, dehydration, and worsening of chronic conditions such as asthma, congestive heart failure, or diabetes.

Did you know?

For about 100 years, scientists thought that peptic ulcers were caused by stress, spicy food, and alcohol. Later, researchers added stomach acid to the list of causes and began treating ulcers with antacids. Now it is known that peptic ulcers are predominantly caused by Helicobacter pylori, a spiral-shaped bacterium that normally exist in the stomach.

Did you know?

There are immediate benefits of chiropractic adjustments that are visible via magnetic resonance imaging (MRI). It shows that spinal manipulation therapy is effective in decreasing pain and increasing the gaps between the vertebrae, reducing pressure that leads to pain.

Did you know?

When Gabriel Fahrenheit invented the first mercury thermometer, he called "zero degrees" the lowest temperature he was able to attain with a mixture of ice and salt. For the upper point of his scale, he used 96°, which he measured as normal human body temperature (we know it to be 98.6° today because of more accurate thermometers).

Peptic ulcer. A peptic ulcer may occur in the stomach (gastric ulcer), as shown here, or in the duod Peptic ulcer. A peptic ulcer may occur in the stomach (gastric ulcer), as shown here, or in the duod
Sodium Balance Sodium Balance
The Head Start program was designed to increase the school readiness of low-income children. The Head Start program was designed to increase the school readiness of low-income children.
Place a towel or sheet over knee area. Use a thin barrier to protect skin from cold source. Place a towel or sheet over knee area. Use a thin barrier to protect skin from cold source.
Energy Balance Is Achieved When Energy (Calories) In Equals Energy (Calories) Out Energy Balance Is Achieved When Energy (Calories) In Equals Energy (Calories) Out
Electrolyte Balance Electrolyte Balance
Video: Oxygen transport: association and dissociation & Factors that affect hemoglobin's saturation with O2

For a complete list of videos, visit our video library