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× m My Blackboar: × ( w On-line Final yTake Test: Take Sign In or Sig X C webapps/assessment ta te take sprcourse, assessment secure dleTools: MLA/ Pac-12 TV Networks ation has provided the following financial data: https /bblearn callutheran edi Ap sports N Netflix VHL Central | Courseethics Decenber 31, Year 2 and Year 1 ear ear Accounts receivable, net Inventory Prepaid expenses 227,e08 134,880 158,8ee 138,609 138,800 Total current assets Plant & oquipnent, net Total assets 594 ,00e $1,363.88 1,330,000 Liabilities and Stockholders Equity Current 1ibilities ccounts payable s 288, eee 188,008 Accrued 1iabilities tes payable, short term Total current 1iabilities Bonds payable Total 1iabilities Stockholdars' equity 1e,800 Common stock, $5 par value Addstionel paid-in, capital Retained earnings 48e, eee 58,809 Total stockholders equity Total liabilities&stockholders; equity $1, %),We 51,338, e03 Incone Statenent For the Year Ended Decenber 31, Year 2 Sales (al2 an account) Cost of goads sold Gross argin Dperatine expenses Net operating intore Interest expense Net incoo be fore tanes Incone taxes (3s8) 1,398,88 Dividends on common stock during Year 2 totaled $1,600 The market price of common stock at the end of Year 2 was S2.37 per sh Type here to search 3 5 6Explanation / Answer
Answer is 40 Days
Days in Period x Average Accounts Receivable ÷ Net Credit Sales = Average sales period
=(365*((134000+130000)/2))/1370000
=35 days Closest to 40 days
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