Gerrard Construction Co. is an excavation contractor. The following summarized data (in thousands) are taken from the December 31, 2019, financial statements:

For the Year Ended December 31, 2019:
Net revenues	$	31,600
Cost of services provided		11,200
Depreciation expense		5,000
Operating income	$	15,400
Interest expense		3,000
Income tax expense		3,500
Net income	$	8,900
At December 31, 2019:
Assets
Cash and short-term investments	$	3,400
Accounts receivable, net		9,600
Property, plant, and equipment, net		85,400
Total assets	$	98,400
Liabilities and Stockholders' Equity
Accounts payable	$	1,600
Income taxes payable		1,300
Notes payable (long term)		56,500
Paid-in capital		10,000
Retained earnings		29,000
Total liabilities and stockholders' equity	$	98,400

At December 31, 2018, total assets were $80,500 and total stockholders' equity was $31,300. There were no changes in notes payable or paid-in capital during 2019. Required:

1. Assume that the balance of "Accounts Receivable, net" at December 31, 2018, was $8,400. Calculate the following activity measures for Gerrard Construction Co. for the year ended December 31, 2019:
   1. Accounts receivable turnover:
   2. Number of days' sales in accounts receivable:
2. Calculate the following financial leverage measures for Gerrard Construction Co. at December 31, 2019:
   1. Debt ratio:60.4
   2. Debt/equity ratio: