LOGIC COMPANY
	Comparative Income Statement
	For Years Ended December 31, 2017 and 2018
		2018			2017
	Gross sales	$	19,800		$	15,600
	Sales returns and allowances		900			100
	Net sales	$	18,900		$	15,500
	Cost of merchandise (goods) sold		11,800			8,800
	Gross profit	$	7,100		$	6,700
	Operating expenses:
	Depreciation	$	780		$	640
	Selling and administrative		2,800			2,400
	Research		630			540
	Miscellaneous		440			340
	Total operating expenses	$	4,650		$	3,920
	Income before interest and taxes	$	2,450		$	2,780
	Interest expense		640			540
	Income before taxes	$	1,810		$	2,240
	Provision for taxes		724			896
	Net income	$	1,086		$	1,344

	LOGIC COMPANY
	Comparative Balance Sheet
	December 31, 2017 and 2018
		2018			2017
	Assets
	Current assets:
	Cash	$	12,300		$	9,400
	Accounts receivable		16,900			12,900
	Merchandise inventory		8,900			14,400
	Prepaid expenses		24,400			10,400
	Total current assets	$	62,500		$	47,100
	Plant and equipment:
	Building (net)	$	14,900		$	11,400
	Land		13,900			9,400
	Total plant and equipment	$	28,800		$	20,800
	Total assets	$	91,300		$	67,900
	Liabilities
	Current liabilities:
	Accounts payable	$	13,400		$	7,400
	Salaries payable		7,500			5,400
	Total current liabilities	$	20,900		$	12,800
	Long-term liabilities:
	Mortgage note payable		22,200			20,900
	Total liabilities	$	43,100		$	33,700
	Stockholders Equity
	Common stock	$	21,400		$	21,400
	Retained earnings		26,800			12,800
	Total stockholders equity	$	48,200		$	34,200
	Total liabilities and stockholders equity	$	91,300		$	67,900

Calculate the average days collection. (Use 360 days a year. Do not round intermediate calculations. Round your answers to the nearest hundredth.)

	2018	2017
Average Day's Collection