Exhibit 3.1 the Balance Sheet and Income Statement Shown Below Are for Are

question 59

Multiple Choice

Exhibit 3.1
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.

-Refer to Exhibit 3.1.What is the firm's days sales outstanding? Assume a 360-day year for this calculation.

• A) 48.17
• B) 50.71
• C) 53.38
• D) 56.19
• E) 59.14

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Definitions:

Internet Channel

Digital platforms and networks that facilitate online marketing, sales, and communication between businesses and consumers.

Traditional Store-based

Pertains to physical retail outlets or stores where customers can shop for and purchase goods in person.

Extreme-value Retailer

A type of retailer that sells products at prices significantly lower than those of competitors, often in a no-frills shopping environment.

Target Customer

The specific group of consumers identified as the intended recipient of a product or service, based on shared characteristics or needs.