Compute the receivable turnover ratio

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Reference no: EM131727271

The financial data of a firm during the past year is as follows: (all values are in millions of dollars)

Gross income: 17.6

Total sales: 14.2

Total credit sales: 7.9

Net income: 3.2

Cost of goods sold: 6.5

Total assets: 18.4

Average inventory: 1

Average receivables: 1.7

Compute the receivable turnover ratio.

(Provide 2 significant digits)

Reference no: EM131727271

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