From the given income statement and additional information of Chelsea Co., compute the following:
a. Asset turnover for 2013
b. Inventory turnover for 2013
c. Accounts receivable turnover for2013

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Net Sales Cost of Goods Sold Gross Profit Operating Expenses (includes taxes) Net Income 2013 $800,000 350,000 $450,000 150,000 $300,000 2012 600,000 200,000 $400,000 100,000 300,000 2013 Year-End Accounts Receivable Year-End Invento All sales were on credit 2012 30,000 30,000 $130,000 70,000 Total Assets 320,000 80,000