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Excerpts from Stealth Company's December 31, 2021 and 2020, financial statements are presented below: Accounts receivable Inventory Net sales (all credit) Cost of goods sold
Excerpts from Stealth Company's December 31, 2021 and 2020, financial statements are presented below: Accounts receivable Inventory Net sales (all credit) Cost of goods sold Total assets Total stockholders' equity Net income 2021 $ 40,000 28,000 190,000 114,000 425,000 240,000 32,500 2020 $ 36,000 35,000 186,000 108,000 405,000 225,000 28,000 Stealth Company's 2021 average collection period is: Multiple Choice 73 days. 128 days. 104 days. 109 days
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