The following information (in $ millions) comes from the Annual Report of Saratoga Springs Company for the year ending 12/31/2024: Year ended 12/31/2024 $ 8,079 4,897 2,039 Net sales Cost of goods sold Selling and administrative expense Interest expense Income before taxes Net income Cash and cash equivalents Receivables, net Inventories Land, buildings and equipment at cost, net Total assets Total current liabilities Long-term debt Total liabilities 546 597 588 12/31/2024 $ 1,105 1,140 1,185 13,630 $ 17,060 $ 5,877 5,721 $ 11,598 12/31/2023 $ 77 794 649 3,974 $ 5,494 $ 2,339 2,351 $ 4,690
The following information (in $ millions) comes from the Annual Report of Saratoga Springs Company for the year ending 12/31/2024: Year ended 12/31/2024 $ 8,079 4,897 2,039 Net sales Cost of goods sold Selling and administrative expense Interest expense Income before taxes Net income Cash and cash equivalents Receivables, net Inventories Land, buildings and equipment at cost, net Total assets Total current liabilities Long-term debt Total liabilities 546 597 588 12/31/2024 $ 1,105 1,140 1,185 13,630 $ 17,060 $ 5,877 5,721 $ 11,598 12/31/2023 $ 77 794 649 3,974 $ 5,494 $ 2,339 2,351 $ 4,690
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:The following information (in $ millions) comes from the Annual Report of Saratoga Springs Company for the year ending 12/31/2024:
Year ended
12/31/2024
$ 8,079
4,897
2,039
Net sales
Cost of goods sold
Selling and administrative expense
Interest expense
Income before taxes
Net income
Cash and cash equivalents
Receivables, net
Inventories
Land, buildings and equipment at cost, net
Total assets
Total current liabilities.
Long-term debt
Total liabilities
Total stockholders' equity
Required:
Compute the receivables turnover ratio for 2024.
Note: Round your answer to 1 decimal place.
Receivables turnover ratio
546
597
588
12/31/2024
$ 1,105
1,140
1,185
13,630
$ 17,060
$ 5,877
5,721
$ 11,598
$5,462
12/31/2023
$ 77
794
649
3,974
$ 5,494
$ 2,339
2,351
$4,690
$804
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