Use the following questions 47-48: The following information is available heres Copy Accounts receivable Inventory Net credit sales Cost of goods sold Net income 12/31/2017 $360,000 280,000 3,000,000 1.200.000 300,000 12312016 $400.000 320,000 1.400.000 1.060,000 170,000 47. The receivables turnover ratio for 2017 is A) 8 3 times B) 3.9 times C) 7.9 times D) 10.0 times Pg. 14 48. The inventory tumover ratios for 2017 is A) 4.3 times B) 4.0 times C) 2.0 times D) 2.4 times Use the following to answer questions 49-51: The following amounts were taken from the financial statements of Palmer Company: 12/31/2017 12/31/2016 $1,000,000 Total assets $800,000 650,000 Net sales 720,000 Gross profit 320,000 352,000 Net income 144,000 117,000 120,000 120,000 Weighted average number of common shares Out-standing Market price of common stock $40 $36 49. The return on assets for 2017 is A) 18% B) 16% C) 36% D) 32% 50. The profit margin for 2017 is A) 10% B) 15% C) 20% D) 30% 51. The price-earnings ratio for 2017 is A) 30 times B) 20 times C) 10 times D) 5 times