Cash and marketable securities	$187,000	Accounts payable	$217,000
Accounts receivable	$498,000	Notes payable	$51,500
Inventories	$799,000	Accrued expenses	$58,300
Prepaid expenses	$19,300	Total current liabilities	$326,800
Total current assets	$1,503,300	Long-term debt	$215,400
Gross fixed assets	$1,978,000	Par value and paid-in-capital	$128,000
Less: accumulated depreciation	$478,000	Retained Earnings	$2,333,100
Net fixed assets	$1,500,000	Common Equity	2,461,100
Total assets	$3,003,300	Total liabilities and owners equity	$3,003,300

Income Statement, Year of 2015

Net sales (all credit)	$5,386,600.00
Less: Cost of goods sold	$3,716,754.00
Selling and administrative expenses	$329,000.00
Depreciation expense	$138,000.00
EBIT	$1,202,846.00
Interest expense	$39,600.00
Earnings before taxes	$1,163,246.00
Income taxes	$465,298.40
Net income	$697,947.60

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 operating cycle.
					Cash & Marketable Securities	$ 187,000.00	A/P	$ 217,000.00
A/R	$ 498,000.00	Notes Payable	$ 51,500.00
Inventories	$ 799,000.00	Accured Exp	$ 58,300.00
Prepaid Exp	$ 19,300.00	Total Current Liabilities	$ 326,800.00
Total Current Assets	$ 1,503,300.00	Long- Term Debt	$ 215,400.00
Gross fixed assets	$ 1,978,000.00	Par Value and Paid in Capital	$ 128,000.00
Accumulated depreciation	$ 478,000.00	Retained Earnings	$ 2,333,100.00
Net Fixed Assers	$ 1,500,000.00	Common Equity	$ 2,461,100.00
Total Assets	$ 3,003,300.00	Total Liabilities and Owners Equity	$ 3,003,300.00
Net Sales	$ 5,386,600.00
COGS	$ 3,716,754.00
Selling and General Expenses	$ 329,000.00
Depreciation Expense	$ 138,000.00
EBIT	$ 1,202,846.00
Interest Expense	$ 39,600.00
Earning B4 Tax	$ 1,163,246.00
Income Taxes	$ 465,298.40
Net Income	$ 697,947.60