Stockholders' equity Accounts Receivable - 1/1 A counts Receivable - 12/31 $ 105,000 $ 140,000 $ 85,000 Net Income Net Sales (all on credit) Cost of Goods Sold $ 21,000 $175,000 $ 120,000 Inventory-1/1 $ 15,000 Inventory-12/31 $ 40,000 Current Assets - 12/31 Current Liabilities - 12/31 $ 150,000 Total Assets-1/1 $ 195,000 Total Liabilities - 12/31 $ 100,000 $ 135,000 Total Assets 12/31 $ 235,000 7. Inventory Turnover REQUIRED a. 3.00 times b. 4.36 times c. Some other amount. (4 points)