Canadian Bacon Inc. financial statements are presented in the table below.

Based on the information in the table, and using a 365-day year, calculate the average collection period (also called Days of Sales in Receivables or Number of Days of Credit).

Round the answers to two decimal places

Balance Sheet December 31, 2013

Cash and marketable securities   $112,000   Accounts payable    $211,000

Accounts receivable   $325,000   Notes payable   $51,500

Inventories   $426,000   Accrued expenses   $50,100

Prepaid expenses   $10,700   Total current liabilities   $312,600

Total current assets   $873,700   Long-term debt   $225,000

Gross fixed assets   $1,514,000   Par value and paid-in-capital   $117,000

Less: accumulated depreciation   $315,000   Retained Earnings   $1,418,100

Net fixed assets    $1,199,000   Common Equity   1,535,100

Total assets   $2,072,700   Total liabilities and owner’s equity   $2,072,700

Income Statement, Year of 2013

Net sales (all credit)   $3,256,600.00

Less: Cost of goods sold   $2,572,714.00

Selling and administrative expenses   $323,000.00

Depreciation expense   $115,000.00

EBIT   $245,886.00

Interest expense   $29,600.00

Earnings before taxes   $216,286.00

Income taxes   $86,514.40

Net income    $129,771.60