Balance Sheet Assets Current Year Liabilities & Owner's Equity Current Year Current Liabilities Accounts Payable $ 789 Current Assets Cash $ 435 578 Accounts Receivable Inventory Total $ 789 901 Total $ 1,914 Long Term Debt $ 1,111 Fixed Assets Total Liabilities $ 1,900 .. Net PP&E $ 8,789 Owner's Equity $ 8,803 Total Assets $ 10,703 Total Liab. And Equity $ 10,703 S67,500 7,890 Current Year Income Statement Sales Cost of Goods Sold Depreciation Earnings Before Interenst and Taxes Interest Earnings Before Taxes 333 $59,277 652 $58.625 $ 10,703 Total Assets $ 10,703 Total Liab. And Equity Current Year Income Statement Sales Cost of Goods Sold Depreciation Earnings Before Interenst and Taxes Interest Earnings Before Taxes Taxes $67,500 7,890 333 $59,277 652 $58,625 23,450 35,175 Net Income Solve for the average collection period with the given income statement and balance sheet (assume all sales are made on credit). Assume that there are 365 days in a year. I 3.52 3.13 0 1.23 2.15