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Question 2 (1 point) a) American Bacon Inc. financial statements are presented in the table...

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Question 2 (1 point) a) 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 Average Day's Purchases. Round the answers to two decimal places Balance Sheet December 31, 2010 Cash and marketable $102,000 Accounts payable $287,000 securities Accounts $299,000 Notes payable $61,200 receivable Inventories $628,000 Accrued expenses $51,900 Total current Prepaid expenses $10,300 $400,100 liabilities Total current assets $1,039,300 Long-term debt $415,000 Gross fixed assets $1,502,000 Par value and $376,000 paid-in-capital Less: accumulated $312,000 Retained Earnings $1,038,200 depreciation Net fixed assets $1,190,000 Common Equity 1,414,200 Total liabilities Total assets $2,229,300 and owner's $2,229,300 equity equity Income statement, Year of 2010 Net sales (all credit) $6,387,700.00 Less: Cost of goods $4,726,898.00 sold Selling and administrative $345,000.00 expenses Depreciation $148,000.00 expense EBIT $1,167,802.00 Interest expense $50,600.00 Earnings before $1,117,202.00 taxes Income taxes $446,880.80 Net income $670,321.20 Your

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