Intro Sales for the year were $85,000 and cost of goods sold were $68,000. The balance sheet at the end of the year is given below: Assets Cash Accounts receivable Inventory Current assets 13,000 7,000 33,000 53,000 Liabilities and Equity Accounts payable 20,000 Current liabilities 20,000 Long-term debt 95,000 Total liabilities 115,000 Paid-in capital 20,000 Retained earnings 32,000 Equity 52,000 Total liab. & equity 167,000 Machines Real estate 34,000 80,000 114,000 167,000 Net fixed assets Total assets Part 1 1B Attempt 1/3 for 10 pts. What is the firm's average collection period (days sales outstanding)? 1+ decimals Submit Part 2 18 Attempt 1/3 for 10 pts. What is the inventory turnover ratio? 2+ decimals