The income statement of Pratt Inc. reports net sales of $3,749.9 million for the current year. The balance sheet reports accounts receivable, net of $535.3 million at December 31 of the current year and $572.2 million at December 31 of the previous year.         The days sales outstanding in the current year are:

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A: a) Calculate the net income as shown below: Resultant table Hence, the net income is $1,132.50.

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A: Solution:-1 Computation of the accounts receivable turnover ratio as follows under:-

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A: Hi, there, Thanks for posting the question. As per our Q&A honour code, we must answer the first…

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A: Hi student Since there are multiple questions, we will answer only first three subparts.

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