Question 42 3 pts Excerpts from Khalil Supply Company's 12-31-2019 and 12-31-2018, financial statements and key ratios are presented below ($ in thousands): Accounts receivable (net Net sales Cost of goods sold Net income Inventory turnover Return on assets Equity Multiple 2019 $ 20 $ 115 $ 60 $ 20 5.22 10.3% 2.36 2018 $ 16 $ 100 $ 55 $ 17 Khalil's 2019 average collection period is (rounded): 63 days. 50 days. 51 days. 57 days. Question 43 3 pts Selected items from Lemus Enterprises 12-31-2019 and 12-31-2018, financial statements are presented below: Accounts receivable Merchandise inventory Net sales Cost of goods sold Total assets Total shareholders' equity Net income 2019 $40,000 $28,000 190,000 114,000 425,000 240,000 32,500 2018 $36,000 35,000 186,000 108,000 405,000 225,000 28,000 Lemus's 2019 asset turnover is (rounded): 0.46. 2.24. 3.73. O 2.79. Question 47 2 pts Mila Kunis signed up for and paid $1,800 for a 6-month intensive dance mastery class on June 1, 2019 with Liohkaya Dance Studios. As of August 1, 2019 Liohkaya's accounting records would show: $600 of revenue, $1,200 of deferred revenue $1,800 of revenue, $1,800 of cash $600 of revenue, $1,200 of accounts receivable O $1,200 of revenue, $600 of accounts receivable On Setpember 15, 2019, Lopez, Inc. contracted to provide Cluck-Cluck Chicken Processing, LLC with an assembly-line component system for a price of $180,000. The system included a finely tuned device that controls the amount of food that goes into each portion by weight, Lopez's proprietary software modified to allow the weighing system to function in Cluck-Cluck's automated system, and a one-year contract to calibrate the equipment and software on an as-needed basis. If Lopez was to provide these goods or services separately, it would charge $120,000 for the scales, $20,000 for the software, and $60,000 for the calibration contract. Lopez delivered and installed the equipment and software on August 1, 2020, and the calibration service commenced on that date. How many performance obligations exist in this contract? 2 O 1