The following data are provided:

December 31

2021 2020

Cash $ 1,500,000 $ 1,000,000

Accounts receivable (net) 1,600,000 1,200,000

Inventories 2,600,000 2,200,000

Plant assets (net) 7,000,000 6,500,000

Accounts payable 1,100,000 800,000

Income taxes payable 200,000 100,000

Bonds payable 1,400,000 1,400,000

10% Preferred stock, $50 par 2,000,000 2,000,000

Common stock, $10 par 2,400,000 1,800,000

Paid-in capital in excess of par 1,600,000 1,300,000

Retained earnings 4,000,000 3,500,000

Net credit sales 12,800,000

Cost of goods sold 8,400,000

Operating expenses 2,900,000

Net income 1,500,000

Additional information:

Depreciation included in cost of goods sold and operating expenses is $1,220,000. On May 1, 2021, 60,000 shares of common stock were issued. The preferred stock is cumulative. The preferred dividends were not declared during 2021.

30. The accounts receivable turnover for 2021 is

a. 12,800 1,600

b. 8,400 1,600

c. 12,800 1,400

d. 8,400 1,400

The following data are provided:

December 31

2021 2020

Cash $ 1,500,000 $ 1,000,000

Accounts receivable (net) 1,600,000 1,200,000

Inventories 2,600,000 2,200,000

Plant assets (net) 7,000,000 6,500,000

Accounts payable 1,100,000 800,000

Income taxes payable 200,000 100,000

Bonds payable 1,400,000 1,400,000

10% Preferred stock, $50 par 2,000,000 2,000,000

Common stock, $10 par 2,400,000 1,800,000

Paid-in capital in excess of par 1,600,000 1,300,000

Retained earnings 4,000,000 3,500,000

Net credit sales 12,800,000

Cost of goods sold 8,400,000

Operating expenses 2,900,000

Net income 1,500,000

Additional information:

Depreciation included in cost of goods sold and operating expenses is $1,220,000. On May 1, 2021, 60,000 shares of common stock were issued. The preferred stock is cumulative. The preferred dividends were not declared during 2021.

31. The inventory turnover for 2021 is

a. 12,800 2,600

b. 8,400 2,600

c. 12,800 2,400

d. 8,400 2,400