Income State ment Balance Sheet $20,000,000 8.000,000 12,000,000 Selling and Administrative 1,600,000 3.000,000 7,400,000 2.000,000 5,400,000 2,160,000 3,240,000 600,000 $2,640,000 Assets Cash Marketable Securities Sales $ 5,000,000 12,500,000 2,500,000 30,000,000 5,000,000 30.000.000 Cost of Goods Sold Accounts Receivable, net Inventory Prepaid Expenses Plant & Equipment Depreciation Interest Taxes (40%) 85,000 000 Total Assets Liabilities and Equity Accounts Payable Notes Payable Accrued Expenses Bonds Payable Common Stock Capital in Excess of Par Retained Eamings Common Stock Div $20,000,000 5,000,000 5,000,000 25,000,000 5,000,000 10,000,000 5,000,000 Total Liabilities and $85,000,000 Equity Shares outstanding of common stock 1,000,000 Market price of common stock = $18 4. The Average Collection Period (365 day year) is: A) 45.63 days B) 12.5 days C) 12.5% D) 4.563 days