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

Based on the information in the table, and using a 365-day year, calculate Days payables outstanding (Payables conversion period).

Round the answers to two decimal places

Balance Sheet December 31, 2011

Cash and marketable securities $143,000 Accounts payable $278,000

Accounts receivable $354,000 Notes payable $87,000

Inventories $672,000 Accrued expenses $65,000

Prepaid expenses $12,500 Total current liabilities $430,000

Total current assets $1,181,500 Long-term debt $284,000

Gross fixed assets $1,675,000 Par value and paid-in-capital $228,000

Less: accumulated depreciation $500,000 Retained Earnings $1,414,500

Net fixed assets $1,175,000 Common Equity 1,642,500

Total assets $2,356,500 Total liabilities and owners equity $2,356,500

Income Statement Year of 2011

Net sales (all credit) $3,136,600.00

Less: Cost of goods sold $2,195,620.00

Selling and administrative expenses $345,000.00

Depreciation expense $146,000.00

EBIT $449,980.00

Interest expense $45,300.00

Earnings before taxes $404,680.00

Income taxes $161,872.00

Net income $242,808.00