Sheridan Medical manufactures hospital beds and other institutional furniture. The company's comparative balance sheet and income statement for 2019 and 2020 follow. Assets Current assets Sheridan Medical Comparative Balance Sheet As of December 31 2020 2019 Cash $391,000 $417,400 Accounts receivable, net 1,018,000 776,500 Inventory 720,000 681,050 Other current assets 381,350 247,050 Total current assets 2,510,350 2,122,000 Property, plant, & equipment, net 8,717,185 8,440,050 Total assets $11,227,535 $10,562,050 Liabilities and Stockholders' Equity Current liabilities $3,167,000 $2,846,100 Long-term debt 3,702,600 3,892,700 Total liabilities 6,869,600 6,738,800 Preferred stock, $5 par value 58,950 58,950 Common stock, $0.25 par value 104,650 103,900 Retained earnings 4,194,335 3,660,400 Total stockholders' equity 4,357,935 3,823,250 Total liabilities and stockholders' equity $11,227,535 $10,562,050 Sheridan Medical Comparative Income Statement and Statement of Retained Earnings For the Year 2020 2019 Sales revenue (all on account) $10,177,250 $9,614,000 Cost of goods sold 5,612,650 5,298,700 Gross profit 4,564,600 4,315,300 Operating expenses 2,840,250 2,634,150 Net operating income 1,724,350 1,681,150 Interest expense 300,300 308,650 Net income before taxes 1,424,050 1,372,500 Income taxes (30%) 427,215 411,750 Net income $996,835 $960,750 Dividends paid Preferred dividends 29,450 29,550 Common dividends 433,450 413,100 Total dividends paid 462,900 442,650 Net income retained 533,935 518,100 Retained earnings, beginning of year 3,660,400 3,142,300 Retained earnings, end of year $4,194,335 $3,660,400 (e-f) Calculate the following liquidity ratios for 2020. (Round average collection period to O decimal place, e.g. 25 and inventory turnover ratio to 2 decimal places, e.g. 5.12. Use 365 days for calculation.) a. Average collection period b. Inventory turnover days times Calculate average days to sell inventory for 2020. (Round answer to O decimal places, e.g. 25. Use 365 days for calculation.) Average days to sell inventory days