Required information [The following information applies to the questions displayed below.) Tungsten Company, Inc, sells heavy construction equipment. There are 10,000 shares of capital stock outstanding. The annual fiscal period ends on December 31. The following condensed trial balance was taken from the general ledger on December 31, Current Year Account Titles Debit Credit Cash $ 37,200 Accounts receivable (net) 24,300 Inventory, ending 55,600 Operational assets 43,600 Accumulated depreciation $ 20,400 Liabilities 27,600 Capital stock 75,600 Retained earnings, January 1, current year 12,888 Sales revenue 165, 100 Sales returns and allowances 6,500 Cost of goods sold 80,200 Selling expense 15,900 Administrative expense 17,200 Bad debt expense 3,400 Sales discounts 8,200 Income tax expense 9,480 Totals $301,580 $301,580 2. The beginning balance in Accounts Receivable (net) was $17,800. Compute the receivables turnover ratio. Rocolvables Turnover Ratio Numerator Denominator times