Using the financial statements below, calculate the ratio listed.

2015 2014 Cash $ 33,000 $ 25,000 Accounts receivable 180,000 140,000 Inventory 340,000 310,000 Prepaid insurance 4,000 5,000 Equipment (net) 290,000 300,000

Total Assets $ 847,000 $ 780,000

Accounts payable 170,200 220,000 Interest payable 2,800 2,800 Income taxes payable 9,440 8,000 Bonds payable 280,000 280,000 Common Stock 100,000 100,000

Retained earnings 284,560 169,200

Total Liab. & S. Equity $ 847,000 $ 780,000

NOTE: Credit Sales are $120,000 both years.

Receivables turnover = ?