Given below are comparative statements of financial position (balance sheets) and an income statement for Eleva Corporation. Eleva Corporation Balance Sheets Year 2 December 31 January 1 Cash $ 31,200 $ 31,200 Accounts receivable 93,600 75,400 Inventory 65,000 72,800 Equipment (net) 114,400 132,600 Total $ 304,200 $ 312,000 Accounts payable 52,000 57,200 Dividends payable 15,600 7,800 Long-term note payable 28,600 28,600 Capital stock, $5 par 145,600 145,600 Retained earnings 62,400 72,800 Total $ 304,200 $ 312,000 Eleva Corporation Income Statement For the year ended Year 2 Sales $ 457,600 Cost of goods sold 275,080 Gross profit on sales $ 182,520 Operating expenses 151,736 Operating income $ 30,784 Interest expense and income taxes 18,200 Net income $ 12,584 All sales were made on account. Cash dividends declared during the year totaled $22,984. Eleva Corporation's operating cycle (in days) for Year 2 is: Multiple Choice 158.8 days. 122.0 days. 213.4 days. 188.0 days.