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Excerpts from Stealth Company's December 31, 2021 and 2020, financial statements are...

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Accounting

Excerpts from Stealth Company's December 31, 2021 and 2020, financial statements are presented below:

2021 2020
Accounts receivable $ 29,500 $ 45,000
Inventory 38,000 42,000
Net sales (all credit) 199,000 198,000
Cost of goods sold 125,000 110,000
Total assets 431,000 408,000
Total stockholders' equity 245,000 227,000
Net income 39,500 38,000

Stealth Company's 2021 receivables turnover ratio is:

Multiple Choice

  • 5.34 times.

  • 6.73 times.

  • 14.61 times.

  • 4.24 times.

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