The financial statements of Wilson Company include the following data: 1 2019 Sales Cost of Goods Sold $1,229,184 276,980 234,000 Operating Expenses Net Cash Provided From Operating Activities 746,504 Net Income 718,204 Dividends 113,000 Earnings per Share 1.91 Wilson Company Balance Sheet December 31 Dec 31, 2019 Assets Cash Accounts Receivable, net Inventory $1,519,204 87,400 60,100 1,666,704 266,000 $1,932,704 Dec 31, 2018 $836,300 87,200 65,800 989,300 244,000 $1,233,300 Total Current Assets Plant Assets, net Total Assets Liabilities and Stockholders' Equity Liabilities and Stockholders' Equity Current Liabilities 10% Bonds Payable Total Liabilities $37,000 54,000 91,000 429,000 1,412,704 1,841,704 $1,932,704 $40,800 62,000 102,800 323,000 807,500 1,130,500 $1,233,300 Common Stock $1 par Retained Earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity Required: Compute the inventory turnover ratio for 2019. Round your answer to two decimal places. (If necessary, consult a list of formulas.) Inventory turnover ratio