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The following information pertains to Blue Flower Company. Assume that all balance sheet amounts represent both average and ending balance figures. Assume that all sales

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The following information pertains to Blue Flower Company. Assume that all balance sheet amounts represent both average and ending balance figures. Assume that all sales were on credit. Assets Cash and short-term investments $ 45,000 Accounts receivable (net) 30,000 Inventory 25,000 Property, plant and equipment 210,000 Total Assets $310.000 Liabilities and Stockholders' Equity Current liabilities $ 60.000 Long-term liabilities 95.000 Stockholders' equity common 155.000 Total Liabilities and Stockholders' Equity $310.000 Income Statement Sales revenue Cost of goods sold 116.000 66000 Inventory Property, plant and equipment Total Assets 25,000 210,000 $310,000 Liabilities and Stockholders' Equity Current liabilities Long-term liabilities Stockholders' equity-common Total Liabilities and Stockholders' Equity $ 60,000 95,000 155,000 $310,000 Income Statement Sales revenue Cost of goods sold Gross margin Operating expenses Net income Number of shares of common stock $ 116,000 66,000 50,000 30,000 $ 20,000 6,000 $20 Market price of common stock Dividends per share on common stock Cash provided by operations .50 $35,000 What is the accounts receivable turnover for this company? A. 2.2 times B.4.4 times C. 7.7 times D.3.9 times

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