Calculate the following financial ratio for this company:  .

Average Accounts Payable Payment Period (Days Payable Outstanding) using 365 days per year

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Cash Accts. Receivable $1,000.0 Accounts payable $1,000.0 Notes payable 2,000.0 3,000.0 Inventories 1,000.0 Accruals 500.0 Total current assets $5,000.0 Total current liabilities $3,500.0 Long-term bonds 5,000.0 Total debt $8,500.0 Common stock (5,000 shares) 500.0 Retained earnings 11,000.0 Net plant & equip. 15,000.0 Total common equity $11,500.0 Total assets $20,000.0 Total liabilities & equity $20,000.0 INCOME STATEMENT Net sales Operating costs (Cost of Goods Sold) EBIT $ 10,000.0 6,000.0 $ 4,000.0 600.0 Less: Interest EBT Less: Taxes Net income $ 3,400.0 1,000.0 $ 2,400.0 Cash Accts. Receivable $1,000.0 Accounts payable $1,000.0 Notes payable 2,000.0 3,000.0 Inventories 1,000.0 Accruals 500.0 Total current assets $5,000.0 Total current liabilities $3,500.0 Long-term bonds 5,000.0 Total debt $8,500.0 Common stock (5,000 shares) 500.0 Retained earnings 11,000.0 Net plant & equip. 15,000.0 Total common equity $11,500.0 Total assets $20,000.0 Total liabilities & equity $20,000.0 INCOME STATEMENT Net sales Operating costs (Cost of Goods Sold) EBIT $ 10,000.0 6,000.0 $ 4,000.0 600.0 Less: Interest EBT Less: Taxes Net income $ 3,400.0 1,000.0 $ 2,400.0

Answer rating: 100% (QA)

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