Question 7 (1 point) Powers Company reported net sales of $1,220,000, average Accounts Receivable, net of $76,500, and net income of $51,875. The accounts receivable turnover ratio is: A) 29.9 times. B) 0.63 times. OC) 16.0 times. D) 17.0 times. E) 15.0 times. Question 8 (1 point) A corporation reports the following year-end balance sheet data. The company's working capital equals: Cash Accounts receivable Inventory $ 59,000 Current liabilities 74,000 Long-term liabilities $ 94,000 54,000 119,00 0 109,00 0 376,00 79,000 Common stock 164,00 Retained earnings 0 376,00 Total liabilities and O equity Equipment Total assets A) $376,000 B) $118,000 C) $228,000 D) $212,000 E) $94,000