Financial statements for Oratz Company appear below: Oratz Company Balance Sheet December 31, 20X6 and 20X5 (dollars in thousands)

	20X6	20X5
Current assets
Cash and marketable securities	$150	$150
Accounts receivable, net	130	130
Inventory	180	180
Prepaid expenses	30	30
Total current assets	490	490
Noncurrent assets:
Plant & equipment, net	1,430	1,370
Total assets	$1,920	$1,860
Current liabilities:
Accounts payable	$70	$100
Accrued liabilities	100	70
Notes payable, short term	230	220
Total current liabilities	400	390
Noncurrent liabilities:
Bonds payable	300	300
Total liabilities	700	690
Shareholders' equity:
Preferred shares, $10 par, 5%	120	120
Common shares, $15 par	140	140
Additional paid-in capital--common shares	240	240
Retained earnings	720	670
Total shareholders' equity	1,220	1,170
Total liabilities & shareholders' equity	$1,920	$1,860

Oratz Company Income Statement for the Year Ended December 31, 20X6 (dollars in thousands)

Sales (all on account)	$1,630
Cost of goods sold	1,140
Gross margin	490
Operating expenses	190
Net operating income	300
Interest expense	30
Net income before taxes	270
Income taxes (30%)	81
Net income	$189

Dividends during 20 6 totaled $139 thousand, of which $6 thousand were preferred dividends. The market price of a share of common stock on December 31, 20 6 was $260. Oratz Company's accounts receivable turnover for 20 6 was closest to:Multiple Choice

• 6.3 times.

• 8.8 times.

• 9.1 times.

• 12.5 times.