Reference no: EM132810842
Question - Excerpts from Stealth Company's December 31, 2021 and 2020, financial statements are presented below:
2021 2020
Accounts receivable $29,500 $46,000
Inventory 29,000 37,000
Net sales (all credit) 200,000 199,000
Cost of goods sold 118,000 112,000
Total assets 434,000 416,000
Total stockholders' equity 248,000 229,000
Net income 36,500 37,000
Required - Determine the Stealth Company's 2021 receivables turnover ratio?
a. 5.30 times.
b. 4.00 times.
c. 14.71 times.
d. 6.76 times.
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