Canadian Bacon Inc. financial statements are presented in the table below. Based on the information in the table, calculate the firm's accounts receivable turnover ratio. Round the answers to two decimal places Balance Sheet December 31, 2011 Cash and marketable $143,000 Accounts payable $278,000 securities Accounts $354,000 Notes payable $87,000 receivable Inventories $672,000 Accrued expenses $65,000 Total current Prepaid expenses $12,500 $430,000 liabilities Total current $1,181,500 Long-term debt $284,000 assets Par value and Gross fixed assets $1,675,000 $228,000 paid-in-capital Less: accumulated $500,000 Retained Earnings $1,414,500 depreciation Net fixed assets $1,175,000 Common Equity 1,642,500 Total liabilities Total assets $2,356,500 and owner's $2,356,500 equity Income Statement Year of 2011 Net sales (all credit) $3,136,600.00 Less: Cost of goods $2,195,620.00 $345,000.00 $146,000.00 sold Selling and administrative expenses Depreciation expense EBIT Interest expense Earnings before taxes Income taxes Net income $449,980.00 $45,300.00 $404,680.00 $161,872.00 $242,808.00