Gerrard Construction Co. is an excavation contractor. The following summarized data (in thousands) are taken from the December 31, 2016, financial statements:

For the Year Ended December 31, 2016:
Net revenues	$	32,000
Cost of services provided		11,100
Depreciation expense		5,000
Operating income	$	15,900
Interest expense		3,300
Income tax expense		4,000
Net income	$	8,600
At December 31, 2016:
Assets
Cash and short-term investments	$	3,300
Accounts receivable, net		10,300
Property, plant, and equipment, net		80,400
Total assets	$	94,000
Liabilities and Stockholders' Equity
Accounts payable	$	1,400
Income taxes payable		1,500
Notes payable (long term)		52,200
Paid-in capital		9,000
Retained earnings		29,900
Total liabilities and stockholders' equity	$	94,000

At December 31, 2015, total assets were $81,900 and total stockholders' equity was $31,600. There were no changes in notes payable or paid-in capital during 2016.

1. From the above income statement and balance sheet for Gerrard Construction Co. What other financial statements are required?

A: Statement of cash flows

B: Statement of changes in stockholders' equity

C: Both statement of cash flows and statement of changes in stockholders' equity

D: None

2. Indicate the note disclosures that should be provided by Gerrard Construction Co. (Select all that apply.)

A: The effects of accounting changes

B: Pension and post-retirement plans

C Contingencies and commitments

D Events subsequent to the balance sheet

E Change in equity

F Number of employees

G Gross profit & Net profit

H Company's effective income tax rate

I Details of the company's employee benefit

J Significant accounting policies

K Earnings per share

c. Assume that the balance of "Accounts Receivable, net" at December 31, 2015, was $9,000. Calculate the following activity measures for Gerrard Construction Co. for the year ended December 31, 2016:

3. Calculate the Accounts receivable turnover. (Round your answer to 1 decimal place.)

4. Calculate the number of days' sales in accounts receivable. (Use 365 days of the year. Do not round intermediate calculations. Round your answer to 1 decimal place.)