Q16. For the past year, the Company X generated $160,000 revenue and the cost of goods sold was $65,000. At the end of the year, the accounts receivable and payable balances were $25,425 and $25,000, respectively. How long (in days) on average did it take the company to pay off its suppliers during the year?

Use the Information below to answer the next four questions 2016 2017 Common Stock 62,000 84,000 Long-term Debt 100,000 104,000 Account Receivable 11,000 10,000 176,000 250,000 Sales 6,000 Interest Paid 4,500 Depreciation 5,000 4,500 5,500 Other Costs 10,500 10,000 Inventory 12,700 Account Payable 4,400 8,500 Cost of Goods Sold 120,480 65,800 Taxes 20,850 33.450 Net Fixed Assets 198,450 255,050 Retained Eamings (Balance-sheet) 12,000 34,800