Selected data of Islander Company follow:

Required:

1. What is the accounts receivable turnover for 20X1?

2. What is the inventory turnover for 20X1?

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As of December 31, Balance Sheet Data 20X1 20X0 Accounts receivable $500,000 $470,000 Allowance for doubtful accounts (25,000) (20,000) Net accounts receivable $475,000 $450,000 $550,000 Inventories-lower of cost or market $600,000 Year Ended December 31, Income Statement Data 20X1 20х0 $2,500,000 500,000 $2,200,000 400,000 Net credit sales Net cash sales Net sales $3,000,000 $2,600,000 $1,800,000 Cost of goods sold Selling, general, and administrative expenses Other $2,000,000 300,000 50,000 270,000 30,000 Total operating expenses $2,350,000 $2, 100,000