The Harrison Bicycle Company had the following operating results for 2018-2019. In addition, the company paid dividends In both 2018 and 2019 of $110.000 per year and made capital expenditures In both years of $230,000 per year. The company's stock price in 2018 was $14.20 and $12.50 in 2019. Also In 2019, the Industry average earnings multiple for the bicycle Industry was 8 and the free cash flow and sales multiples were 16 and 1.35, respectively. The company is publicly owned and has 1,200,000 shares of outstanding stock at the end of 2019. Balance Sheet, Dec 31, 2019 2018 cash $ 273, 080 $ 106, 008 Accounts Receivable 531, 020 $ 406, 080 Inventory $ 456, 020 $ 306,080 Total Current Assets $1, 260, 080 818, 080 Long-lived Assets 1, 235, 080 1, 130, 080 Total Assets $2, 495, 020 $1, 948, 080 Current Liabilities $ 506, 060 306, 080 Long-term Debt 660, 020 560, 080 Shareholder Equity 1, 329, 020 1, 082, 080 Total Debt and Equity $2, 495, 020 $1, 948, 080 Income Statement, for year ended Dec 31, 2019 2018 Sales $6, 250, 800 $5,450,060 Cost of Sales 5, 085, 020 4,300, 080 Gross Margin 1, 165, 020 1, 150, eee Operating Expenses 510, 020 460, 080 Operating Income 655,020 590, 080 Taxes 298, 020 193, 080 Net Income $ 357,020 497, 080 Cash Flow From Operations 2019 2018 Net Income $ 357,080 $497, 080 Plus Depreciation Expense 125, 080 125, 080 + Decrease (-inc) in AccRec. and Inv. (275,080) + Increase (-dec) in Cur. Liable 200, 600 cash Flow from Oper $ 407,000 $622, 080 The accounts receivable turnover ratio for 2019 Is (rounded): Multiple Choice O 11.0 O 14.7 O 13.3 13.5