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The financial data of a firm during the past year is as follows: (all values are in millions of dollars) Gross income: 18.7 Total
The financial data of a firm during the past year is as follows: (all values are in millions of dollars) Gross income: 18.7 Total sales: 14.1 Total credit sales: 8.3 Net income: 2.9 Cost of goods sold: 8.7 Total assets: 13.9 Average inventory: 1.7 Average receivables: 1.1 Compute the receivable turnover ratio. (Provide two digits to the right of the decimal point)
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