The average collection In a vertical analysis of a balance sheet, each item is expressed as a percentage of: Question 29 options: total assets or total liabilities. total assets or total stockholders' equity. total assets or total liabilities and stockholders' equity. total liabilities or total stockholders' equity.period is determined by dividing: Question 28 options: 365 days by the accounts receivable turnover. net credit sales by 365 days. net credit sales by average receivables. beginning accounts receivable by ending accounts receivable