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Excerpts from Stealth Company's December 31, 2021 and 2020, financial statements are presented below: 2021 2020 Accounts receivable $ 29,500 $ 47,000 Inventory 30,000 40,000
Excerpts from Stealth Company's December 31, 2021 and 2020, financial statements are presented below: 2021 2020 Accounts receivable $ 29,500 $ 47,000 Inventory 30,000 40,000 Net sales (all credit) 192,000 194,000 Cost of goods sold 119,000 114,000 Total assets 426,000 416,000 Total stockholders' equity 248,000 234,000 Net income 36,000 30,000 Stealth Company's 2021 receivables turnover ratio is: Multiple Choice 6.54 times. 4.03 times. 5.02 times. 14.44 times.
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