Comparative financial statements for Heritage Antiquing Services for the fiscal year ending December $31$ appear on the following page. The company did not issue any new common or preferred stock during the year. A total of $600,000$ shares of common stock were outstanding. The interest rate on the bond payable was $10\%,$ the income tax rate was $40\%,$ and the dividend per share of common stock was $$0\mathrm{.}75.$ The market value of the company$$s common stock at the end of the year was $$26.$ All of the company$$s sales are on account.

Heritage Antiquing Services Comparative Balance Sheet

$($dollars in thousands$)$

This Year Last Year

Assets

Current assets:

Cash $ $1,080$ $ $1,210$

Accounts receivable, net $9,0006,500$

Inventory $12,00010,600$

Prepaid expenses $600500$

Total current assets $22,68018,810$

Property and equipment:

Land $9,0009,000$

Buildings and equipment, net $36,80038,000$

Total property and equipment $45,80047,000$

Total assets $ $68,480$ $ $65,810$

Liabilities and Stockholders' Equity

Current liabilities:

Accounts payable $ $18,500$ $ $17,400$

Accrued payables $900700$

Notes payable, short term $-100$

Total current liabilities $19,40018,200$

Long$-$term liabilities:

Bonds payable $8,0008,000$

Total liabilities $27,40026,200$

Stockholders' equity:

Preferred stock $1,0001,000$

Common stock $2,0002,000$

Additional paid$-$in capital $4,0004,000$

Total paid$-$in capital $7,0007,000$

Retained earnings $34,08032,610$

Total stockholders' equity $41,08039,610$

Total liabilities and stockholders' equity $ $68,480$ $ $65,810$

Heritage Antiquing Services

Comparative Income Statement and Reconciliation

$($dollars in thousands$)$

This Year Last Year

Sales $ $66,000$ $ $64,000$

Cost of goods sold $43,00042,000$

Gross margin $23,00022,000$

Selling and administrative expenses:

Selling expenses $11,50011,000$

Administrative expenses $7,4007,000$

Total selling and administrative expenses $18,90018,000$

Net operating income $4,1004,000$

Interest expense $800800$

Net income before taxes $3,3003,200$

Income taxes $1,3201,280$

Net income $1,9801,920$

Dividends to preferred stockholders $60400$

Net income remaining for common stockholders $1,9201,520$

Dividends to common stockholders $450450$

Net income added to retained earnings $1,4701,070$

Retained earnings, beginning of year $32,61031,540$

Retained earnings, end of year $ $34,080$ $ $32,610$

Required:

Compute the following financial data for short$-$term creditors for this year:

$1.$ Accounts receivable turnover. $($Round your answer to $1$ decimal place.$)$

$2.$ Inventory turnover. $($Round your answer to $1$ decimal place.$)$