Arch Associates reports the following comparative balance sheets and income statement information. Arch Associates Comparative Balance Sheets 12/31/Year 1 12/31/Year 2 Cash $14,800 $24,800 Accounts receivable 6,800 10,800 Prepaid insurance 12,800 10,800 Inventory 8,800 4,800 Property, plant and equipment 14,800 12,800 Total assets $58,000 $64,000 Accounts payable $10,800 $14,800 Salaries payable 12,800 6,800 Long term notes payable 13,600 11,600 Stockholders' equity 20,800 30,800 Total liabilities and equity $58,000 $64,000 Income Statement Year Ended 12/31/Year 2) Revenue Cost of goods sold $126,000 54,000 Gross margin 72,000 Operating expense 34,000 Net income $ 38,000 All inventory purchases are made on account. The amount of cash paid for inventory purchases during Year 2 was: The following balance sheet information is provided for Patton Company: Assets Cash Year 2 $3,800 Year 1 $3,400 Accounts receivable. Inventory 13,300 $34,500 15,300 $41,500 Assuming Year 2 cost of goods sold is $378,000, what is the company's average days to sell inventory? (Use 365 days in a year. Do not round Intermediate calculations.) Multiple Choice 33.31 days 36.69 days 40.07 days 9.95 days your