Excerpts from Stealth Company's December 31, 2021 and 2020, financial statements are presented below:       2021   2020 Accounts receivable $ 29,500 $ 43,000 Inventory   32,000   39,000 Net sales (all credit)   197,000   194,000 Cost of goods sold   125,000   118,000 Total assets   426,000   419,000 Total stockholders' equity   244,000   227,000 Net income   37,000   34,000

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Excerpts from Stealth Company's December 31, 2021 and 2020, financial statements are presented below:
 

    2021   2020
Accounts receivable $ 29,500 $ 43,000
Inventory   32,000   39,000
Net sales (all credit)   197,000   194,000
Cost of goods sold   125,000   118,000
Total assets   426,000   419,000
Total stockholders' equity   244,000   227,000
Net income   37,000   34,000
 

  
Stealth Company's 2021 receivables turnover ratio is:

 

Multiple Choice
  •  

    4.24 times.

  •  

    14.44 times.

  •  

    5.43 times.

  •  

    6.63 times.

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