Hello, I need help with finding the average collection period and the payable turnover ratio. I need the formula and showing the work.

FORECASTED BALANCE SHEET YEAR 1 YEAR 2 YEAR 3 YEAR 4 YEAR 5 101,400 10,000 174,444 10,000 Assets Cash Accounts Receivable Prepaid Insurance Current Assets Furniture & Fixtures (net) Equipment (net) Total Assets 99,960 12,000 12,000 123,960 13,000 6,000 142,960 111,400 14,000 8,000 133,400 124,971 8,000 8,000 140,971 12,000 4,000 156,971 139,252 6,000 4,000 149,252 11,000 2,000 162,252 184,444 10,000 194,444 6,000 4,000 9,000 5,000 Liabilities Accounts payable Customer deposits Interest payable Taxes payable Current Liabilities Bank loan Total Liabilities 2,000 1,500 1,800 13,335 18,635 60,000 78,635 4,000 2,000 1,200 14,348 21,548 40,000 61,548 5,000 3,000 600 11,256 19,856 20,000 39,856 12,886 22,886 14,377 28,377 22,886 28,377 Stockholder's Equity Capital Retained Earnings Total Stockholder's Equity Total Liabilities & Stockholder's Equity 30,000 24,765 54,765 133,400 30,000 51,412 81,412 142,960 40,000 72,315 112,315 152,171 40,000 99,366 139,366 162,252 40,000 122,946 162,946 191,323 A B C D E F G H J FORECASTED INCOME STATEMENT Assumptions Assumption Explanations WNA YEAR 5 4 Revenue YEAR 1 150,000 67,500 82,500 YEAR 2 154,500 69,525 84,975 YEAR 3 159,135 71,611 87,524 YEAR 4 167,092 75,191 91,900 175,446 78,951 96,495 5 Cost of Sales 6 Gross Margin 7 Operating Expenses 8 Advertising 9 Equipment Rental 10 Wages 11 Office Rent 12 Utilities 13 Insurance Expense 14 Depreciation 15 Operating Income 16 Interest Expense 17 Income before taxes 18 Income taxes 6,000 6,000 9,600 14,400 3,600 6,180 6,000 9,600 14,400 3,600 6,365 9,000 9,600 14,400 3,600 4,000 3,000 37,559 600 36,959 12,936 24,023 6,684 9,000 14,400 14,400 3,600 4,000 3,000 36,817 7,018 9,000 14,400 14,400 3,600 4,000 3,000 41,078 3,000 39,900 1,800 38,100 13,335 24,765 3,000 42,195 1,200 40,995 14,348 26,647 36,817 12,886 23,931 41,078 14,377 26,700 19 Net Income A B C D E F G H RATIOS YEAR 1 YEAR 2 YEAR 3 YEAR 4 YEAR 5 5.75 6.55 6.52 6.50 7.51 *ROUND TO TWO DECIMAL PLACES CURRENT RATIO AVERAGE COLLECTION PERIOD PAYABLES TURNOVER TOTAL ASSET TURNOVER DEBT RATIO TIMES INTEREST EARNED 1 GROSS PROFIT MARGIN 2 NET PROFIT MARGIN 3 RETURN ON EQUITY 4 5.98 24.33 8.75 1.12 59% 22.17 9.44 1.01 7.90 1.08 43% 35.16 55% 17% 33% 26% 62.59 55% 8.85 1.03 14% 0.00 55% 14% 17% c 0.90 15% 0.00 55% 15% 16% 55% 17% 45% 15% 21% N