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Balance Sheet Assets Current Assets Cash Accounts receivable Inventories Total current assets 50 22 17 89 Liabilities Current Liabilities Accounts payable 42 Notes payable short-term

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Balance Sheet Assets Current Assets Cash Accounts receivable Inventories Total current assets 50 22 17 89 Liabilities Current Liabilities Accounts payable 42 Notes payable short-term debt 7 Total current liabilities 49 Long-Term Liabilities Long-Term Assets Net property, plant, and equipment 121 Total long-term assets 121 Long-term debt Total long-term liabilities Total Liabilities Stockholders' Equity Total Liabilities and Stockholders' Equity 128 128 177 33 Total Assets 210 210 Income Statement Total sales 312 Cost of sales -210 Gross Profit 102 Selling, general and administrative expenses -34 Research and development -10 Depreciation and amortization -5 Operating Income 53 Other income Earnings before interest and taxes (EBIT) 53 Interest income (expense) -20 Pretax income 33 Taxes Net Income 25 Refer to the balance sheet and the income statement of a specific company above. All numbers are shown in millions of dollars. Given the accounts receivable days, which of the following is the most accurate statement about the company? O It takes on average about 40 days to collect payment from its customers. It takes on average about 36 days to collect payment from its customers. It takes on average about 30 days to collect payment from its customers. O It takes on average about 26 days to collect payment from its customers. It takes on average about 20 days to collect payment from its customers

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