Main Tuxedo Shop has been in business for four years. Because the company has recently had a cash flow problem, management wonders whether there is a problem with receivables or inventories. Here are selected figures from the company's financial statements (in thousands):

Compute the receivable turnover, inventory turnover, and payables turnover for each of the four years, and comment on the results relative to the cash flow problem that Main Tuxedo Shop has been experiencing. Merchandise inventory was $22,000, accounts receivable was $22,000, and accounts payable was $8,000 in 20x0. (Round computa- tions to one decimal place.) L01

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20x4 20x3 20x2 20x1 Net sales $288 $224 $192 $160 Cost of goods sold 180 144 120 96 Accounts receivable (net) 48 40 32 24 Merchandise inventory 56 Accounts payable 225 44 32 20 15 222 20 10