6 Required information The Foundational 15 (Algo) [LO14-2, LO14-3, LO14-4, LO14-5, LO14-6] [The following information applies to the questions displayed below.] Markus Company's common stock sold for $5.00 per share at the end of this year. The company paid a common stock dividend of $0.80 per share this year. It also provided the following data excerpts from this year's financial statements: Ending Balance Beginning Balance: ok ant ences Cash Accounts receivable Inventory Current assets Total assets Current liabilities Total liabilities Common stock, $1 par value Total stockholders' equity Total liabilities and stockholders' equity Sales (all on account) Cost of goods sold Gross margin Net operating income Interest expense Net income This Year $ 1,045,000 $ 606,100 $ 438,900 $ 300,000 $15,000 $ 199,500 $ 45,000 $ 90,000 $ 72,100 $ 207,100 $ 766,000 $ 88,000 $ 196,000 $ 159,000 $570,000 $ 766,000 $ 42,000 $ 65,000 $ 90,000 $ 197,000 $ 836,400 $ 82,500 $176,400 $ 159,000 $660,000 $ 836,400 Foundational 14-9 (Algo) 9. What is the accounts receivable turnover and the average collection period? (Use 365 days in a year. Round your intermediate and final answers to 2 decimal places.) Accounts receivable turnover Average collection period 13.48 48.81 days