Please use the following information to answer questions 6-9. Assume there are 365 days in a year. Use the average accounts receivable balance for the year.: * 2015 2014 Net sales $650,000 $600,000 Cost of goods sold 125,000 150,000 Gross profit 525,000 450,000 Selling and Administrative 325,000 300,000 Exp. Operating income 200,000 150,000 Income tax expense 80,000 60,000 Net income 120,000 90,000 Market price Shares outstanding $17.00 $16.50 150,000 150,000 Total assets Total stockholders' equity Accounts receivable $900,000 $920,000 720,000 680,000 100,000 250,000 6. Assuming that all sales were on account, what is the company's average collection period for 2015? O a. 52.3 Ob. 75.6 Oc. 98.3 O d. 100.9 7. What is the company's return on gross profit for 2015?: * O a. 18.46% Ob 20.00% O c. 21.54% O d. 22.86% 8. What is the company's return on equity for 2015?: * Oa. 12.86% Ob. 17.14% O c. 91.15% O d. 92.86%