Lisa, Inc.

Statement of Financial Position

December 31, 2010

(in thousands)

                                                     2010           2009

Assets   

Current assets:     

   Cash                                             $  30        $  25

   Trading securities                                   20            15

   Accounts receivable (net)                           45            30

   Inventories (at lower of cost of market)             60            50

   Prepaid items                                       15            20

          Total Current Assets                        $170          $140

Long-term assets:   

  Long-term investments:     

    Available-for-sale investments                    $  25        $  20

  Property, plant & equipment:     

    Land (at cost)                                       75            75

    Building (net)                                        80           90

    Equipment (net)                                     95          100

  Intangible assets:     

     Patents (net)                                       35           17

    Goodwill (net)                                       20           13

          Total Long-Term Assets                      $330         $315

          Total Assets                                 $500          $455

Liabilities and Equity    

Current liabilities:      

  Notes payable                                       $ 23          $ 12

  Accounts payable                                     47             28

  Accrued interest                                    $ 15          $ 15

          Total current liabilities                      $ 85          $ 55

Long-term liabilities:      

  Long-term Notes payable 10% due 12/31/2012   $  10            $ 10

  Bonds payable 12% due 12/31/2015                 15             15

          Total long-term debt                       $  25          $  25

          Total liabilities                             $110           $  80

Shareholders' Equity      

  Preferred stock - 5% cumulative, $100 par, nonparticipating      

     authorized, issued and outstanding, 1,000 shares       $100     $100

  Common stock - $10 par 20,000 shares authorized, 15,000      

     shares issued and outstanding                           150      150

  Additional paid-in capital - common                          75       75

  Retained earnings                                            65       50

          Total Equity                                        $390     $375

          Total Liabilities & Equity                            $500     $455

Assume net credit sales were $300,000 for 2010.  Lisa Inc.'s average collection period for 2010, using a

360-day year, was

A. 45 days.

B. 36 days.

C. 61 days.

D. 54 days.