INTERMEDIATE ACCOUNTING ACCESS 540 DAY
INTERMEDIATE ACCOUNTING ACCESS 540 DAY
10th Edition
ISBN: 9781264706327
Author: SPICELAND
Publisher: MCG
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Chapter 19, Problem 19.5Q

What is a simple capital structure? How is EPS determined for a company with a simple capital structure?

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I need help with this financial accounting question using standard accounting techniques.
Pinnacle Corp. reports sales of $15 million for Year 2, with a gross profit margin of 35%. 25% of Pinnacle's sales are on credit. Item Year I Accounts Receivable $200,000 Year 2 $250,000 $1,200,000 $1,500,000 $1,000,000 $1,100,000 Inventory Accounts Payable What is the accounts payable days outstanding at the end of Year 2 for Pinnacle Corp.?
I am searching for the correct answer to this financial accounting problem with proper accounting rules.

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