Selected data of Islander Company follow: Balance Sheet Data Accounts receivable Allowance for doubtful accounts Net accounts receivable Inventories-lower of cost or market Income Statement Data Net credit sales. Net cash sales Net sales Cost of goods sold Selling, general, and administrative expenses Other Total operating expenses Required: 1. What is the accounts receivable turnover for 2017? 2. What is the inventory turnover for 2017? (Round your final answer to 2 decimal places.) 1. Accounts receivable turnover times 2. Inventory turnover times As of December 31, 2017 2016 $500,000 $470,000 (25,000) (20,000) 475,000 450,000 600,000 550,000 Year Ended December 31, 2017 2016 $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