Excerpts from Dowling Company's December 31, 2021 and 2020, financial statements and key ratios are presented below (all numbers are in millions):

	2021				2020
Accounts receivable (net)	$	25			$	18
Net sales	$	132			$	117
Cost of goods sold	$	77			$	72
Net income	$	25			$	20
Inventory turnover		6.05
Return on assets		12.30	%
Equity multiplier		2.53

Dowling's 2021 average collection period is: (Round your answer to 2 decimal places.)

Multiple Choice

• 50.00 days.

• 59.45 days.

• 51.77 days.

• 54.76 days.