Saved #10 5 Cash Accounts receivable Inventory Current assets Ending Beginning Balance Balance $ 57,500 $ 50,000 $ 108,000 $ 75,000 $ 83,500 $ 108,000 233,000 $249,000 $ $975,000 $ 1,086,000 $ 97,500 $109,500 $240,000 $216,000 $ 55,000 $ 55,000 $ 130,000 $130,000 $735,000 $ 870,000 $975,000 $ 1,086,000 Total assets Current liabilities Total liabilities Preferred stock Common stock. $1 par value Total stockholders' equity 02:36:41 Total liabilities and stockholders' equity This Year $ 1,275,000 Sales (all on account) Cost of goods sold $ 739,500 535,500 $ Gross margin Net operating income Interest expense Net income $ 419,250 $ 19,500 244,900 $ Required: What is the average collection period? (Use 365 days a year. Round your intermediat calculations and final answer to 2 decimal places.) Average collection period days