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Requirement 1d. Compute the accounts receivable turnover. (Round your answer to two decimal places. Net credit sales Average A/R Accounts receivable turnover 464,000 64,500 7.25 times II Current Year Previous Year ent rati Balance Sheet Cash $ 25,000 $ = = 33,000 Short-term investments 16,000 27,000 wo del Accounts receivables, net 55,000 . 74,000 Inventory 55,000 51,000 urrent Prepaid expenses 5,000 13,000 55 Total current assets 156,000 198,000 d any tions.) Accounts payable 41,000 38,000 Total current liabilities 95,000 89,000 Income Statement Net sales $ 464,000 Cost of goods sold 370,000 55,000 Net income