Intro Sales for the year were $71,000 and cost of goods sold were $56,800. The balance sheet at the end of the year is given below: Assets Cash Accounts receivable Inventory Current assets Liabilities and Equity 12,000 Accounts payable 16,000 6,000 Current liabilities 16,000 36,000 Long-term debt 95,000 54,000 Total liabilities 111,000 34,000 Paid-in capital 20,000 80,000 Retained earnings 37,000 114,000 Equity 57,000 168,000 Total liab. & equity 168,000 Machines Real estate Net fixed assets Total assets B - Attempt 1/3 for 8 pts. Part 1 What is the firm's average collection period (days sales outstanding)? 1+ decimals Submit IB Attempt 1/3 for 8 pts. Part 2 What is the inventory turnover ratio? 2+ decimals Submit