hurry

MEGAFRAME COMPUTER COMPANY Balance Sheet As at December 31, 20X5 ASSETS Cash $40,000 Accounts receivable 60,000 90,000 Inventory New plant and equipment Total Assets 220,000 $410,000 LIABILITIES AND SHAREHOLDERS' EQUITY $60,000 40,000 Accounts payable Accrued expenses Long-term debt Common stock 130,000 80,000 Retained earnings Total Liabilities and Shareholders' Equity 100,000 $410,000 MEGAFRAME COMPUTER COMPANY Income Statement For the year ended December 31, 20X5 $700,000 400,000 300,000 Sales (all on credit) Cost of goods sold Gross profit Selling and administrative expense Operating profit Interest expense Net income before taxes 100,000 200,000 40,000 160.000 Taxes (50%) 80,000 80.000 Net income The firm's average collection period is. (Use 365 days in a year.) Select one: O a 20 Days b. 12 Days Oc. 31 Days Od 25 Days