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Financial Statements for March Company Appear Below -March Company's Average Collectionperiod (Age of Receivables)for Year 2 Was

question 190

Multiple Choice

Financial statements for March Company appear below:
$Financial statements for March Company appear below: \begin{array}{|l|r|} \hline&\begin{array}{r} \text { March Company } \\ \text { Income Statement }\\ \text { For the Year Ended December 31, Year } \\ 2 \\ \text { (dollars in thousands) } \\\end{array} \\ \hline \text { Sales (All on Account) } & \$ 1610 \\ \hline \text { Costs of Goods Sold } & \$ 1120 \\ \hline \text { Gross Margin } & \$ 490 \\ \hline \text { Operating Expenses } & \$ 190 \\ \hline \text { Net Operating Income } & \$ 300 \\ \hline \text { Interest Expense } & \$ 50 \\ \hline \text { Net Income before Taxes } & \$ 250 \\ \hline \text { Income Taxes (30\%) } & \$ 75 \\ \hline \text { Net Income } & \$ 175 \\ \hline \end{array} -March Company's average collectionperiod (age of receivables) for Year 2 was closest to which of the following? A) 34.0 days. B) 35.1 days. C) 48.9 days. D) 50.5 days.$
$\begin{array}{|l|r|}\hline&\begin{array}{r}\text { March Company } \\\text { Income Statement }\\\text { For the Year Ended December 31, Year } \\2 \\\text { (dollars in thousands) } \\\end{array} \\\hline \text { Sales (All on Account) } & \$ 1610 \\\hline \text { Costs of Goods Sold } & \$ 1120 \\\hline \text { Gross Margin } & \$ 490 \\\hline \text { Operating Expenses } & \$ 190 \\\hline \text { Net Operating Income } & \$ 300 \\\hline \text { Interest Expense } & \$ 50 \\\hline \text { Net Income before Taxes } & \$ 250 \\\hline \text { Income Taxes (30\%) } & \$ 75 \\\hline \text { Net Income } & \$ 175 \\\hline\end{array}$
-March Company's average collectionperiod (age of receivables) for Year 2 was closest to which of the following?

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