Given below are comparative statements of financial position (balance sheets) and an income statement for Claret Corporation.

All sales were made on account. Cash dividends declared during the year totaled $12,292.

Claret Corporation's inventory turnover for Year 2 is:

29 Given below are comparative statements of financial position (balance sheets) and an income statement for Claret Corporation. Claret Corporation Balance Sheets Year 2 December 31 January 1 Cash $ 16, 400 $ 16, 400 eBook Accounts receivable 47 , 840 39 , 300 Inventory 33,300 37,200 Equipment (net) 58 , 000 67, 100 Total $ 155, 540 $ 160, 000 Accounts payable 26, 800 19 , 400 Dividends payable 8 , 600 4, 700 Long-term note payable 15, 100 15, 100 Capital stock, $5 par 73, 600 73, 600 Retained earnings 31, 44 37, 200 Total $ 155 , 540 $ 160, 000 Claret Corporation Income Statement For the year ended Year 2 Sales $ 229 , 600 Cost of goods sold 137, 620 Gross profit on sales $ 91, 980 Operating expenses 75, 948 Operating income $ 16, 032 Interest expense and income taxes 9 , 500 Net income $ 6,532 All sales were made on account. Cash dividends declared during the year totaled $12,292. Claret Corporation's inventory turnover for Year 2 is: Multiple Choice O 3.90 times. O 93.60 days. O 3.70 times. O 4.13 times