Willy Co. Balance Sheet As of 12/31/x3 Assets: Current Assets: Cash 16,000 AR 22,000 Inventory 63,000 Total Current Assets 101,000 Long Term Assets 50,000 Total Assets 151,000 Liabilities and Owner's Equity Liabilities: Current Liabilities 48,000 LT Liabilities 31,000 Total Liabilities 79,000 Owner's Equity Common Stock (15,000 shares outstanding, no 30,000 par) Retained Earnings 42,000 Total OE 72,000 Total Liabilities and OE 151,000 Retained Earnings 42,000 Total OE 72,000 Total Liabilities and OE 151,000 Willy Co. Income Statement For the year 20x3 Sales Revenue 426,000 COGS 276,000 150,000 Gross Margin Selling and Admin Expenses Net Income 82,000 68,000 Calculate Inventory Turnover assuming the 20x2 Ending Inventory balance was 39,000: (Enter your answer to 3 decimal places)