a) Prepare the current assets section of the balance sheet for Sunland Industries on December 31, 2024. (List Current Assets in order of liquidity. Enter account name only and do not provide descriptive information.)

b) Calculate the receivables turnover and collection period. (Remember that this is the end of the first year of business.) (Round answers to 1 decimal place, e.g. 52.7. Use 365 days for calculation.)

At December 31, 2024, Sunland Industries reports the following selected accounts from the unadjusted trial balance for its first year of operations: SUNLAND INDUSTRIES Balance Sheet (Partial) December 31, 2024 Assets ent Assets sh terest Receivable $1,000 Notes Receivable \begin{tabular}{|l|l|} \hline 24,640 \\ \hline \end{tabular} \begin{tabular}{|} \hline 55,560 \\ \hline \end{tabular} tes Receivable 39,600591,360 rchandise Inventory epaid Insurance \( \begin{array}{r}\square 7,040 \\ \hline \$ \longdiv { 1 , 0 0 4 , 2 0 0 } \\ \hline \hline\end{array} \)