LOGIC COMPANY
	Comparative Income Statement
	For Years Ended December 31, 2017 and 2018
		2018	2017
	Gross sales	$	21,200		$	16,650
	Sales returns and allowances		800			100
	Net sales	$	20,400		$	16,550
	Cost of merchandise (goods) sold		11,450			8,400
	Gross profit	$	8,950		$	8,150
	Operating expenses:
	Depreciation	$	920		$	710
	Selling and administrative		3,850			3,100
	Research		770			610
	Miscellaneous		580			410
	Total operating expenses	$	6,120		$	4,830
	Income before interest and taxes	$	2,830		$	3,320
	Interest expense		780			610
	Income before taxes	$	2,050		$	2,710
	Provision for taxes		820			1,084
	Net income	$	1,230		$	1,626

	LOGIC COMPANY
	Comparative Balance Sheet
	December 31, 2017 and 2018
		2018	2017
	Assets
	Current assets:
	Cash	$	13,100		$	10,100
	Accounts receivable		17,600			13,600
	Merchandise inventory		9,600			15,100
	Prepaid expenses		25,100			11,100
	Total current assets	$	65,400		$	49,900
	Plant and equipment:
	Building (net)	$	15,600		$	12,100
	Land		14,600			10,100
	Total plant and equipment	$	30,200		$	22,200
	Total assets	$	95,600		$	72,100
	Liabilities
	Current liabilities:
	Accounts payable	$	14,100		$	8,100
	Salaries payable		8,100			6,100
	Total current liabilities	$	22,200		$	14,200
	Long-term liabilities:
	Mortgage note payable		23,100			21,600
	Total liabilities	$	45,300		$	35,800
	Stockholders Equity
	Common stock	$	22,100		$	22,200
	Retained earnings		28,200			14,100
	Total stockholders equity	$	50,300		$	36,300
	Total liabilities and stockholders equity	$	95,600		$	72,100

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 days collection