Can someone please check and see if I have the correct answer? If not, can you please let me know what the correct answer is?

I chose answer c. The information is below the question.

1. Refer to the King Products Corporation example. What is King Products Corporation's average collection period for the fiscal year ended at June 30, Year 6, using a 360-day year?

a.	36 days
b.	45 days
c.	54 days
d.	61 days
e.	none of the above

King Products Corporation

Statement of Financial Position

(in thousands)

	June 30
	Year 6	Year 5
Cash	$ 60	$ 50
Marketable securities (at market)	40	30
Accounts receivable (net)	90	60
Inventories (at lower of cost or market)	120	100
Prepaid items	30	40
Total current assets	$ 340	$280
Long-term investments (at cost)	50	40
Land (at cost)	150	150
Building (net)	160	180
Equipment (net)	190	200
Patents (net)	70	34
Goodwill (net)	40	26
Total long-term assets	$ 660	$630
Total assets	$1,000	$910
Notes payable	$ 46	$ 24
Accounts payable	94	56
Accrued interest	30	30
Total current liabilities	$ 170	$110
Notes payable, 10% due 12/31/Year 12	20	20
Bonds payable, 12% due 6/30/Year 15	30	30
Total long-term debt	$ 50	$ 50
Total liabilities	$ 220	$160
Preferred stock-5% cumulative, $100 par, non-participating, authorized, issued and outstanding, 2,000 shares	200	200
Common stock-$10 par, 40,000 shares authorized, 30,000 shares issued and outstanding	300	300
Additional paid-in capital--common	150	150
Retained earnings	130	100
Total shareholders' equity	$ 780	$750
Total liabilities and shareholders' equity	$1,000	$910

King Products Corporation Income Statement For the year ended June 30 (in thousands)
	Year 6
Net sales	$600
Costs and expenses
Cost of goods sold	440
Selling, general, and administrative	60
Interest expense	10
Income before taxes	$ 90
Income taxes	45
Net income	$ 45