Precision Tool (Q2-3) 2012 Income Statement Net sales $36,408 Less: Cost of goods sold 28,225 Less: Depreciation 1.760 Earnings before interest and taxes 6,423 Less: Interest paid 510 Taxable income $5,913 Less: Taxes 2.070 Net income $3.843 Precision Tool 2011 and 2012 Balance Sheets 2011 2012 2011 2012 Cast $2,060 $1.003 $7.250 $8.384 Accounts payable Long terme debe Accounts rec. 3.411 4.218 9,809 11.300 Inventory 18,776 21.908 Common stock 15.000 17.500 Total 524.247 $27.129 Retained earning 3.825 Net fixed assets 14.160 1408 Total assets $38,407 S41.202 Total lab & equity $18.407 S41.209 2. How many days on average does it take Precision Tool to sell its inventory? Jse 2012 values) A. 164.30 days B. 187.77 days C. 219.63 days D. 247 46 days E. 283.31 days