Pinecrest Cempany Use the selected data from Pinecrest Company's financial statements to answer the following question. 2017 2016 Cash $ 22,000 S 14,000 Accounts receivable 42.000 16.000 Merchandise inventory 22,000 83,000 Prepaid expenses 23,000 18,000 Total current assets $131,000 S109.000 Total current liabilities $ 65,000 $ 72,000 Net credit sales 221,000 326,000 Cost of goods sold 168,000 299,000 Net cash flow from operating activities 16,000 29,000 42. Refer to the data for Pinecrest Company. Competitors in Pinecrest Company's industry have an average inventory turnover of 20.8 times. Its inventory turnover for 2017 a. indicates that the company has too little inventory on hand at the end of 2017 b. indicates that the company is pricing its products too low. c. is cqual to the number of days' sales in the company's inventory. d indicates that the market may be reacting to problems in the sales department by reducing demand for dke company's products