Nbspthe 2011 income statements of leggett amp platt inc

Question

The 2011 income statements of Leggett & Platt, Inc. reports net sales of $3,636.0 million. The balance sheet reports accounts receivable, gross of $527.9 million at December 31, 2011 and $501.0 million at December 31, 2010. The average collection period in 2011 was:

1. A)  7 days
2. B)  51 days
3. C)  53 days
4. D)  50 days
5. E)  None of the above