Question Four (20 points) Selected data of Ismael Company follow: $ Balance Sheet Data Accounts receivable Allowance for doubtful accounts Net accounts receivable Inventories-lower of cost or market As of December 31, 2011 2010 500,000 $ 470,000 (25,000) (20,000) 475,000 450,000 600,000 550,000 $ Income Statement Data Net credit sales Net cash sales Net sales Cost of goods sold Selling, general, and administrative expenses Other Total operating expenses Year Ended December 31, 2011 2010 2,500,000 $ 2,200,000 500,000 400,000 3,000,000 2,600,000 2,000,000 1,800,000 300,000 270,000 50,000 30,000 2,350,000 2,100,000 Required: 1. What is the accounts receivable turnover for 2011? 2. What is the inventory turnover for 2011? (20 points) (20 points)