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Islington Corporation provides you with the following information: Income Statement ($ million) Balance Sheet 298 (200) Sales on credit COGS Gross profit SGA expenses Op.

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Islington Corporation provides you with the following information: Income Statement ($ million) Balance Sheet 298 (200) Sales on credit COGS Gross profit SGA expenses Op. profit Interest expense Tax Net Income Average over Period $ million Cash 50 Accounts payable Accounts receivable 60 Accrued expenses Inventory 100 Long-term debt Property, P&E 375 Depreciation (85) Common stock Retained earnings 150 (60) 38 (6) (13) 140 65 19 Total Assets 500 Total Liabilities & Equity 500 The average receivables collection period for Islington Corporation is closest to: 5.0 days. 109.5 days. 73.5 days

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