At the end of 2021, Velazquez Inc. has 39,000,000 shares of stock outstanding and the market price of its stock was $35.60 per share. Calculate the days' sales in receivables as of the end of 2021.

2020 & 2021 Balance Sheets ($ in thousands)
	2020	2021		2020	2021
Cash	95,000	100,000	Accounts Payable	75,000	85,000
Accounts Receivables	85,000	90,000	Long-term debt	115,000	135,000
Inventory	80,000	80,000	Common Stock	900,000	950,000
TOTAL	260,000	270,000	Retain Earnings	220,000	250,000
Net fixed Assets	1,050,000	1,150,000
TOTAL	1,310,000	1,420,000	Total Liabilities & Equity	$1,310,000	$1,420,000

2021 Income Statement ($ in thousands)
Sales	$1,200,000
Cost of goods sold	752,000
Depreciation	251,000
EBIT	197,000
Interest Paid	65,000
Taxable Income	132,000
Taxes (21%)	27,720
Net income	104,280

Answer rating: 100% (QA)

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