xcerpts from TPX Company's December 31, 2021 and 2020, financial statements are presented below:

		2021			2020
Accounts receivable	$	87,000		$	69,000
Inventory		91,000			79,000
Net sales (all credit)		480,000			380,000
Cost of goods sold		262,000			220,000
Total assets		840,000			750,000
Total stockholders' equity		475,000			445,000
Net income		78,000			57,000

TPX Company's 2021 receivables turnover ratio is: (Round your answer to 1 decimal place.)

Multiple Choice

• 0.2 times.

• 1.1 times.

• 5.5 times.

• 6.2 times.