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Missoula Inc. reported the following selected financial statement data: Dec 31, 2017 $ 35,000 53,000 73,000 215,000 415,000 150,000 270,000 400,000 225,000 25,000 Dec 31,
Missoula Inc. reported the following selected financial statement data: Dec 31, 2017 $ 35,000 53,000 73,000 215,000 415,000 150,000 270,000 400,000 225,000 25,000 Dec 31, 2018 $ 39,500 62,000 77,000 228,000 400,000 150,000 255,000 488,750 290,000 35,000 Cash Accounts receivable (net) Inventory Plant assets (net) Total assets Liabilities Shareholders' equity Net sales Cost of goods sold Net income Required: Compute the average collection period for 2018. (Round your answer to one decimal place.) days Average collection period
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