American Bacon Inc. financial statements are presented in the table below.

Based on the information in the table, and using a 365-day year, calculate the average collection period (also called Days of Sales in Receivables or Number of Days of Credit).

Round the answers to two decimal places

Balance Sheet December 31, 2010

Cash and marketable securities	$102,000	Accounts payable	$287,000
Accounts receivable	$299,000	Notes payable	$61,200
Inventories	$628,000	Accrued expenses	$51,900
Prepaid expenses	$10,300	Total current liabilities	$400,100
Total current assets	$1,039,300	Long-term debt	$415,000
Gross fixed assets	$1,502,000	Par value and paid-in-capital	$376,000
Less: accumulated depreciation	$312,000	Retained Earnings	$1,038,200
Net fixed assets	$1,190,000	Common Equity	1,414,200
Total assets	$2,229,300	Total liabilities and owners equity	$2,229,300

Income statement, Year of 2010

Net sales (all credit)	$6,387,700.00
Less: Cost of goods sold	$4,726,898.00
Selling and administrative expenses	$345,000.00
Depreciation expense	$148,000.00
EBIT	$1,167,802.00
Interest expense	$50,600.00
Earnings before taxes	$1,117,202.00
Income taxes	$446,880.80
Net income	$670,321.20

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