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12) Given below are comparative balance sheets and an income statement for Rosie Corporation. Rosie Corporation Balance Sheets - 2019 Dec. 31 Jan. 1 Cash $ 31,200 $ 31,200 Accounts receivable 75,540 76,400 Inventory 65,000 72,800 Equipment (net) 114,400 132,600 $ 286,140 313,000 Accounts payable 52,000 57,200 Dividends payable 15,600 7,800 Long-term note payable 28,600 28,600 Capital stock, $5 par 145,600 145,600 Retained earnings 44.340 73,800 $ 286.140 313.000 Rosie Corporation Income Statement For the year ended 2019 Sales 590,000 Cost of goods sold (280,080) Gross profit on sales $ 309,920 Operating expenses (143,752) Operating income $ 166,168 Interest expense and income taxes (37.200) Net income $ 128.968 All sales were made on account. Cash dividends declared during the year totaled $25,000. Rosie Corporation's accounts receivable turnover for 2019 is closest to: A) 4.75 times. B) 2.91 times. C) 5.42 times. *D) 7.76 times