Use the information below to compute the receivables turnover. (The same company and numbers are used for questions 19 -22) SHARKEY CORPORATION Selected Financial Data As of December 31, .... ....................................................2007.......... 2006 Cash $ 8,000 $ 60,000 Marketable securities 32,000 8,000 Accounts receivable 40,000 110,000 Inventory 80,000 140,000 Net property, plant, and equipment 240,000 280,000 Accounts payable 60,000 100,000 Short- term notes payable 30,000 50,000 Credit (AR)sales 600,000 900,000 Cost of goods sold 1,260,000 1,403,000

a: 8 times

b: 6 times

c: 12 times

d: 14 times