Compute the receivables turnover ratio for 2016. Round your answer to two decimal places. (If necessary, consult a list of formulas.)

Receivables turnover ratio:

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2016 1,124,942 Cost of Goods Sold 433.500 operating Expenses 281,000 Net cash Provided From operating Activities 425.542 Net Income 410,442 95.000 Earnings per Share 1.72 Howard Company Balance Sheet December 31 Dec 31, 2016 Dec 31, 2015 $620,342 207,800 87,800 88,800 Accounts Receivable, net 117,400 113,800 826,542 409,400 Total Current Assets 189,000 210,000 1,036,542 $598,400 Liabilities and Stockholders' Equity 43,700 $42,400 ciment Liabilities 66,000 75,000 10% Bonds Payable 117,400 109,700 181.000 Common Stock, par 307.700 623.142 Retained Eartungu 488.700 919,142 Total stockholders Equit S598,400 1,036,542 Total Liabilities and Stockhclders Equity Required