de questions/2503945 BOX I Question 5 The balance sheet and income statement for Rocket Corporation are as follows: Balance Sheet as of December 31, 2019 ASSETS LIABILITIES & EQUITY Cash & marketable sec. Accounts Receivable Inventory Total current assets $3,500 47,000 13,000 $63,500 Accounts payable Taxes payable Short-term borrowings Total current liabilities $38,000 9.000 20,500 $67,500 Net PP & E $452.000 Long-term debt $200,000 Total liabilities $267,500 Common stock at par $80,000 Additional pald-in capital $45,000 Retained earnings $123,000 TOTAL LIABILITIES & EQUITY $515,500 TOTAL ASSETS $515,500 Income Statement for the year ending December 31, 2019 Sales $750,000 Cost of goods sold 540,000 Gross profit $210,000 S. G&A 115,000 Operating profit $95,000 Interest expense 14.994 Earnings b4 tax $80,006 Income tax 20,002 Net Income $60,005 Rocket's stock was selling for $7 a share at the end of 2019, and there were 95 thousand shares outstanding. Rocket paid dividends of $0.5 a share in 2019 Approximately how many days are Rocket's customers taking to pay their bills? Assume a 365-day year. 26 days 23 days 16 days 32 days