### The 2011 income statements of leggett & platt

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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

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