Suppose the company has credit terms of 20 days and all sales are on credit. During 2018, what credit management problems does this company have, if any? Explain

Consolidated Statement of Earnings and Retained Earnings
Year Ended December 31,	2018	2017	2016
Earnings	(in thousands)
Revenues:
Net sales	$2,004,719	$1,937,021	$1,835,987
Investment and other income	18,636	17,153	14,614
Total revenues	$2,023,355	$1,954,174	$1,850,601
Costs and expenses:
Cost of goods sold	$ 848,363	$ 847,366	$ 814,483
Costs (gain) related to factory closure and sale	-10,404	3,300	10,436
Selling, distribution, and general administrative	743,902	708,310	656,473
Interest	615	958	1,097
Total cost and expenses	$1,582,476	$1,559,934	$1,482,489
Earnings before income taxes	$ 440,879	$ 394,240	$ 368,112
Income taxes	136,378	122,614	128,840
Net earnings	$ 304,501	$ 271,626	$ 239,272
Retained Earnings
Retained earnings at beginning of year	$1,032,139	$ 898,512	$ 497,481
Dividends declared
(per share: 2018$1.31; 2017$1.19)	(152,023)	(137,999)	(87,301)
Retained earnings at end of year	$1,184,617	$1,032,139	$ 649,452
Per-Share Amounts
Net earnings per average share of common stock	$2.63	$2.34	$1.99
Dividends paid per share of common stock	$1.30	$1.17	$1.02
Culinary Delights Company
Consolidated Statement of Earnings and Retained Earnings
Year Ended December 31,	2018	2017
ASSETS	(in thousands)
Current assets:
Cash and cash equivalents	$ 214,572	$ 206,627
Short-term investments, at amortized cost	137,112	120,728
Accounts receivable, net	194,877	175,967
Inventory	256,108	247,392
Other prepaid assets	25,376	30,538
Deferred income taxescurrent	15,027	16,421
Total current assets	$ 843,072	$ 797,673
Marketable equity securities, at fair value	39,888	26,375
Deferred charges and other assets	92,183	59,566
Deferred income taxesnoncurrent	25,522	29,038
Property, plant, and equipment, at cost:
Land	$ 36,013	$ 26,298
Buildings and building equipment	310,212	277,808
Machinery and equipment	642,556	566,766
	$ 988,781	$ 870,872
Less accumulated depreciation	468,691	440,398
	$ 520,090	$ 430,474
Total assets	$1,520,755	$1,343,126
LIABILITIES AND STOCKHOLDERS EQUITY	(in thousands)
	2018	2017
Current liabilities:
Accounts payable	$ 76,691	$ 71,001
Accrued expenses	67,848	78,378
Dividends payable	23,222	22,034
Income and other taxes payable	49,491	53,460
Deferred income taxescurrent	1,374	943
Total current liabilities	$ 218,626	$ 225,816
Deferred income taxesnoncurrent	$ 40,312	$ 30,874
Other noncurrent liabilities	104,885	101,057
Stockholders' equity:
Preferred stockno par, authorized 20,000 shares; issued 0 shares
Common stockno par, authorized 400,000 shares; issued 2018: 93,007; 2017: 92,545	$ 12,401	$ 2,339
Class B commonconvertible authorized 80,000 shares; issued 2018: 23,214; 2017: 23,676	3,095	3,157
Additional paid-in capital	272	226
Retained earnings	1,184,617	1,032,139
Foreign currency translation adjustment	-61,339	-65,034
Unrealized holding gains on marketable equity securities	24,698	25,915
Common stock in treasury, at cost (2018: 111 shares; 2017: 252 shares)	(6,712)	(13,363)
Total stockholders' equity	$1,157,032	$ 985,379
Total liabilities and stockholders' equity	$1,520,855	$1,343,126