Problem 8 Intro Sales for the year were $81,000 and cost of goods sold were $64,800. The balance sheet at the end of the year is given below: Assets Cash Accounts receivable Inventory Current assets Machines Real estate Net fixed assets Total assets 10,000 5,000 36,000 51,000 34,000 80,000 114,000 165,000 Liabilities and Equity Accounts payable 19,000 Current liabilities 19,000 Long-term debt 95,000 Total liabilities 114,000 Paid-in capital 20,000 Retained earnings 31,000 Equity 51,000 Total liab. & equity 165,000 8 Attempt 1/1 for 10 pts. Part 1 What is the firm's average collection period? 0+ decimals Submit Show all parts