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

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

Based on the information in the table, and using a 365-day year, calculate Days payables outstanding.

Round the answers to two decimal places

Balance Sheet December 31, 2010

Cash and marketable securities $102,000 Accounts payable $287,000
Accounts receivable $299,000 Notes payable $61,200
Inventories $628,000 Accrued expenses $51,900
Prepaid expenses $10,300 Total current liabilities $400,100
Total current assets $1,039,300 Long-term debt $415,000
Gross fixed assets $1,502,000 Par value and paid-in-capital $376,000
Less: accumulated depreciation $312,000 Retained Earnings $1,038,200
Net fixed assets $1,190,000 Common Equity 1,414,200
Total assets $2,229,300 Total liabilities and owner’s equity $2,229,300
Income statement, Year of 2010

Net sales (all credit) $6,387,700.00
Less: Cost of goods sold $4,726,898.00
Selling and administrative expenses $345,000.00
Depreciation expense $148,000.00
EBIT $1,167,802.00
Interest expense $50,600.00
Earnings before taxes $1,117,202.00
Income taxes $446,880.80
Net income $670,321.20

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