Question 6 B. Jones Corporation has issued common stock only. The company has been successful and has a gross profit rate of 20%. The information shown below was taken from the company's financial statements. 482,000 4,346,000 Beginning inventory Purchases Ending inventory Average accounts receivable Average common stockholders' equity 3,100,000 Sales revenue (all on credit) Net income 700,000 5,600,000 341,000 Compute the following Your answer has been saved and sent for grading. See Gradebook for score details. Accounts receivable turnover and the average number of days required to collect the accounts receivable. (Round to O decimal places, e.g. 25) Accounts receivable turnover 8 times Average collection period 46 days The ending inventory, inventory turnover and the average days in inventory. (Round to 1 decimal place, e.g. 25.2) Ending Inventory Inventory turnover Average days in inventory 772,000 times days