The following information pertains to Blue Spruce Corp. Assume that all balance sheet amounts represent both...

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The following information pertains to Blue Spruce Corp. 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 Accounts receivable (net) $48000 41000 Inventory 22000 Property, plant and equipment 213000 Total Assets $324000 Liabilities and Stockholders' Equity Current liabilities $ 68000 Long-term liabilities 79000 Stockholders' equity-common 177000 Total Liabilities and Stockholders' Equity $324000 Income Statement Sales revenue $85000 Cost of goods sold 48620 Gross profit 36380 Operating expenses 21000 Net income $ 15380 Number of shares of common stock 5000 Market price of common stock $26 Dividends per share on common stock 3.4 Cash provided by operations $39000 What is the inventory turnover for this company? 1.65 times 2.21 times O 0.70 time O 5.85 times The following information pertains to Blue Spruce Corp. 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 Accounts receivable (net) $48000 41000 Inventory 22000 Property, plant and equipment 213000 Total Assets $324000 Liabilities and Stockholders' Equity Current liabilities $ 68000 Long-term liabilities 79000 Stockholders' equity-common 177000 Total Liabilities and Stockholders' Equity $324000 Income Statement Sales revenue $85000 Cost of goods sold 48620 Gross profit 36380 Operating expenses 21000 Net income $ 15380 Number of shares of common stock 5000 Market price of common stock $26 Dividends per share on common stock 3.4 Cash provided by operations $39000 What is the inventory turnover for this company? 1.65 times 2.21 times O 0.70 time O 5.85 times