-You Are Able to Obtain the Items in the Table

$\begin{array}{|l|l|l|}\hline \text { Item/year } & \mathbf{2 0 0 9} & \mathbf{2 0 1 0} \\\hline \text { Profit and lossitems } & \text { (in millions) } & \text { (in millions) } \\\hline \text { Net annual sales } & 2.325 & 3.351 \\\hline \text { Operating revenue } & 2.506 & 3.808 \\\hline \text { Operating profit before interest and tax } & 0.655 & 1.352 \\\hline \text { Interest expense } & 0.620 & 0.615 \\\hline \text { Total revenue } & 3.521 & 3.015 \\\hline \text { Cost of goods sold } & 1.300 & 1.205\\\hline \\\hline \text { Balance sheet items } & & \\\hline \text { Receivables } & 0.805 & 0.900 \\\hline \text { Inventory } & 0.515 & 0.611 \\\hline \text { Total Non-current assets } & 5.400 & 5.355\\\hline \end{array}$
-You are able to obtain the items in the table from a company's balance sheet and profit and loss for 2009 and 2010.Given this information,calculate the average collection period for the firm for 2010.

A) 37 days
B) 93 days
C) 105 days
D) 121 days

Correct Answer:

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