71.48 74.52 73.00 76.04

Peak Industries Below are the two most recent balance sheets and most recent income statement for Peak Industries. The company has an effective tax rate of 25%. Balance Sheet 2019 2018 Assets: Cash Accounts Receivable (net) Inventory Long-lived assets Less: Accumulated depreciation Total assets $10,000 6,000 8.000 12,000 (4.000) $32,000 $ 6,000 1.500 10.000 11.000 (2.000) $26.500 Liabilities and Stockholders' Equity: Accounts payable Deferred revenues Long-term note payable Less: Discount on note payable Common stock Retained earnings Total liabilities and stockholders' equity $ 5.000 1.000 10.000 (800) 12.000 4.800 $32.000 $ 6,000 2,000 10.000 (1.000) 6.000 3.500 $26.500 Income Statement For the year ended December 31, 2019 Revenues Cost of goods sold Depreciation expense Interest expense Bad debt expense Other expense (including income taxes) Net income $42.000 (24.000) (2.000) (3.000 (2.000) (9.000) $ 2.000 Refer to the information for Peak industries Peak's accounts payable turnover in days is