The Sleep Company had the following operating results for 2021-2022. In addition, the company paid dividends in both 2021 and 2022 of $71,400 per year and made capital expenditures in both years of $30,000 per year. The company's stock price in 2021 was $8 and $7 in 2022. The industry average earnings multiple for the mattress industry was 9 in 2022 and the free cash flow and sales multiples were 18 and 1.5, respectively. The company is publicly owned and has 1,000,000 shares of outstanding stock at the end of 2022. Cash Balance Sheet, December 31, Accounts Receivable Inventory Total Current Assets Long-lived Assets Total Assets Current Liabilities Long-term Debt Shareholder Equity Total Debt and Equity 2022 2021 $ 378,000 $ 138,000 $ 388,000 $ 438,000 $ 288,000 $ 1,054,000 1,460,000 $ 2,514,000 $ 238,000 638,000 1,638,000 $ 2,514,000 $ 338,000 $ 914,000 1,480,000 $ 2,394,000 $ 338,000 538,000 1,518,000 $ 2,394,000 Income Statement, for year ended December 31, Sales Cost of Sales 2022 $ 4,940,000 4,252,000 688,000 2021 $ 4,690,000 4,152,000 538,000 Gross Margin Operating Expenses Operating Income Taxes 369,000 419,000 319,000 119,000 127,600 47,600 Net Income $ 191,400 $ 71,400 Cash Flow From Operations Net Income Plus Depreciation Expense +Decrease (-increase) in Accounts Receivable and Inventory + Increase (-decrease) in Current Liabilities Cash Flow from Operations The accounts receivable turnover ratio for 2022 is (rounded): 2022 $ 191,400 50,000 100,000 (-100,000) $ 241,400 2021 $ 71,400 50,000 $ 121,400 Multiple Choice 10.5 12.0 13.0 14.2 12.8