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Corona Company's balance sheet accounts follow: At December 31 2014 2013 2012 Assets Cash $30,070 $35,367 $35,388 Accounts receivable, net 82,236 58,199 45,358 Merchandise inventory
Corona Company's balance sheet accounts follow: |
At December 31 | 2014 | 2013 | 2012 |
Assets | |||
Cash | $30,070 | $35,367 | $35,388 |
Accounts receivable, net | 82,236 | 58,199 | 45,358 |
Merchandise inventory | 99,322 | 77,695 | 50,301 |
Prepaid expenses | 12,532 | 12,303 | 7,635 |
Plant assets, net | 246,056 | 223,136 | 203,748 |
Total assets | $470,216 | $406,700 | $342,430 |
Liabilities and Equity | |||
Accounts payable | $114,462 | $73,539 | $49,057 |
Long-term notes payable secured by mortgages on plant assets | 92,195 | 94,223 | 77,237 |
Common stock, $10 par value | 164,500 | 164,500 | 164,500 |
Retained earnings | 99,059 | 74,438 | 51,636 |
Total liabilities and equity | $470,216 | $406,700 | $342,430 |
What is Corona Company's accounts receivable turnover ratio for 2013, assuming net sales for the period were $1,286,257? |
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