The following information pertains to CBFS Company. Assume that all balance sheet amounts representboth average and ending balance figures. Assume that all sales were on credit. Assume that all sales were on credit. Cash and short-term investments-Ph 40,000 Accounts receivable (net)-25,000 Property, plant and equipment-210,000 Property, plant and equipment-210,000 Total Assets-Ph295,000 Liabilities and Stockholders' Equity Current liabilities-Ph 60,000 Long-term liabilities-85,000 Stockholders' equity-common-150,000 Total Liabilities and Stockholders' Equity-Ph295,000 Total Liabilities and Stockholders' Equity-Ph295,000 Sales-Ph 85,000 Cost of goods sold-45.000 Gross margin-40,000 Operating expenses-20,000 Net income-Ph 20,000 Number of sharescommon stock-6,000 Market price of common stock-Ph20 Dividends per share-Ph.90 What is the receivables turnover for this company? a. 2.8 timesb. 2 times c. 3.4 timesd. 3 times