calculate account payable turnover

income statement Net sales (all credit) $10.000.000 Enabled Final Exam BFIN 250 Wint Balance Sheet Assets Cash and marketable securities (3,000,000 $600,000 Accounts receivable Inventories Prepaid expenses Total current assets Fixed assets Less: accum. depreciation 900,000 1,500,000 75,000 $3,075,000 8,000,000 (2,075,000) Less: Cost of goods sold Selling and administrative expense Depreciation expense Interest expense Earnings before taxes income taxes Net income Common stock shares outstanding Market price (2,000,000) (250,000) (200,000) 4,550,000 (1.820.000) $2,730,000 1,000,000 30.00 $5.925,000 $9,000,000 Net fixed assets Total assets Liabilities Accounts payable Notes payable Accrued taxes Total current liabilities Long-term debt Owner's equity (1 million shares of common stock outstanding) Total liabilities and owner's lequity $800,000 700,000 50,000 $1,550,000 2,500,000 As 4,950,000 $9.000.000