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

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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 $ 44,000
Inventory 28,000 41,000
Net sales (all credit) 196,000 188,000
Cost of goods sold 116,000 116,000
Total assets 427,000 413,000
Total stockholders' equity 241,000 233,000
Net income 36,000 37,000

Stealth Company's 2021 receivables turnover ratio is:

Multiple Choice

  • 6.51 times.

  • 5.33 times.

  • 3.93 times.

  • 14.47 times.

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