Universal Calendar Company began the year with accounts receivable (net) and inventory balances of $190,000 and $45,000, respectively. Year-end balances for these accounts were $210,000 and $25,000, respectively, Sales for the year of $700,000 generated a gross profit of $180,000. Calculate the receivables and inventory turnover ratios for the year. Choose Numerator: Receivables Turnover Ratio Choose Denominator: Receivables Turnover Ratio = Receivables turnover ratio O times Choose Numerator: Inventory Turnover Ratio Choose Denominator: - Inventory Turnover Ratio - Inventory turnover ratio O times