Q4. Excerpts from Stealth Company's December 31, 2021 and 2020, financial statements are...
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Accounting
Q4.
Excerpts from Stealth Company's December 31, 2021 and 2020, financial statements are presented below:
| 2021 | 2020 | |||
| Accounts receivable | $ | 29,500 | $ | 45,000 |
| Inventory | 28,000 | 39,000 | ||
| Net sales (all credit) | 199,000 | 199,000 | ||
| Cost of goods sold | 122,000 | 114,000 | ||
| Total assets | 428,000 | 419,000 | ||
| Total stockholders' equity | 248,000 | 230,000 | ||
| Net income | 36,500 | 39,000 | ||
Stealth Company's 2021 receivables turnover ratio is:
Multiple Choice
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4.14 times.
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5.34 times.
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14.51 times.
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6.75 times.
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