The 2021 income statement of Anderson Medical Supply Company reported net sales of $12 million, cost of goods sold of $6.5 million, and net income of $885,000. The following table shows the company's comparative balance sheets for 2021 and 2020 ($ in thousands) 2021 2020 $ 640 $ 720 1.0406 70 1.250 1.160 4,100 3,820 $7,030 $6,370 Assets Cash Accounts receivable Inventory Property, plant, and equipment (net) Total assets Liabilities and shareholders' equity Current liabilities Bonds payable Common stock Retained earnings Total liabilities and shareholders' equity $1,300 2.050 2,700 980 $7,030 $1,170 2.050 2,700 450 $6,370 Required: 1. Calculate Anderson's turnover ratios for 2021. (Use 365 days a year. Round your answers to 2 decimal places.) Inventory turnover ratio times imes Receivables tumour ratio Itimas 1,040 1,250 4,100 $7,030 670 1,160 3,820 $6,370 Accounts receivable Inventory Property, plant, and equipment (net) Total assets Liabilities and shareholders' equity Current liabilities Bonds payable Common stock Retained earnings Total liabilities and shareholders' equity $1,300 2,050 2,700 980 $ 7,030 $1,170 2,050 2,700 450 $6,370 Required: 1. Calculate Anderson's turnover ratios for 2021. (Use 365 days a year. Round your answers to 2 decimal places.) times times Inventory turnover ratio Receivables turnover ratio Average collection period Asset turnover ratio days times