LOGIC COMPANY Comparative Income Statement For Years Ended December 31, 2016 and 2017
	2017		2016
Gross sales	$	19,200	$	15,150
Sales returns and allowances		900		100
Net sales	$	18,300	$	15,050
Cost of merchandise (goods) sold		11,950		8,950
Gross profit	$	6,350	$	6,100
Operating expenses:
Depreciation	$	720	$	610
Selling and administrative		2,350		2,100
Research		570		510
Miscellaneous		380		310
Total operating expenses	$	4,020	$	3,530
Income before interest and taxes	$	2,330	$	2,570
Interest expense		580		510
Income before taxes	$	1,750	$	2,060
Provision for taxes		700		824
Net income	$	1,050	$	1,236

LOGIC COMPANY Comparative Balance Sheet December 31, 2016 and 2017
	2017		2016
Assets
Current assets:
Cash	$	12,100	$	9,100
Accounts receivable		16,600		12,600
Merchandise inventory		8,600		14,100
Prepaid expenses		24,100		10,100
Total current assets	$	61,400	$	45,900
Plant and equipment:
Building (net)	$	14,600	$	11,100
Land		13,600		9,100
Total plant and equipment	$	28,200	$	20,200
Total assets	$	89,600	$	66,100
Liabilities
Current liabilities:
Accounts payable	$	13,100	$	7,100
Salaries payable		7,100		5,100
Total current liabilities	$	20,200	$	12,200
Long-term liabilities:
Mortgage note payable		22,100		20,600
Total liabilities	$	42,300	$	32,800
Stockholders Equity
Common stock	$	21,100	$	21,100
Retained earnings		26,200		12,200
Total stockholders equity	$	47,300	$	33,300
Total liabilities and stockholders equity	$	89,600	$	66,100

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

	2017	2016
Average days collection ratio