Universal Calendar Company began the year with accounts receivable (net) and inventory balances of $110,000 and $30,000, respectively. Year-end balances for these accounts were $130,000 and $10,000, respectively. Sales for the year of $300,000 generated a gross profit of $100,000. Calculate the receivables and inventory turnover ratios for the year. Choose Numerator: Receivables Turnover Ratio Choose Denominator: -Receivables Turnover Ratio Receivables turnover ratio times Choose Numerator: Inventory Turnover Ratio Choose Denominator: - Inventory Tumover Ratio - Inventory turnover ratio times