The following information (in $ millions) comes from the Annual Report of Saratoga Springs Co. for the year ending 12/31/2021: Year ended 12/31/2021
Net sales$8,109
Cost of goods sold 4,927
Selling and administrative expense 2,069
Interest expense 576
Income before taxes 537
Net income 618 12/31/2021 12/31/2020
Cash and cash equivalents $1,135 $80
Receivables, net 1,170 824
Inventories 1,215 679
Land, buildings and equipment at cost, net 13,660 4,004
Total assets $17,180 $5,587
Total current liabilities $5,907 $2,369
Long-term debt 5,751 2,381
Total liabilities $11,658 $4,750
Total stockholders' equity $5,522 $837
Required:
Compute the average collection period for 2021. (Round your final answer to 1 decimal place.)

Exercise 4-9presented below is information related to martinez corp. for the year 2017.net sales $1,399,500 write-off of inventory due to obsolescence $80,440cost of goods sold 788,200 depreciation expense omitted by accident in 2016 43,600selling expenses 65,800 casualty loss 53,900administrative expenses 53,500 cash dividends declared 43,300dividend revenue 22,100 retained earnings at december 31, 2016 1,042,400interest revenue 7,420 effective tax rate of 34% on all items exercise 4-9 presented below is information relateexercise 4-9 presented below is information relate prepare a multiple-step income statement for 2017. assume that 61,500 shares of common stock are outstanding. (round earnings per share to 2 decimal places, e. g. 1.49.)prepare a separate retained earnings statement for 2017. (list items that increase retained earnings first.)