following are the financial statements for starman corporation for the year ended d 384711

Following are the financial statements for Starman Corporation for the year ended December 31, 2009. Assume that all balance sheet amounts represent both average and ending figures. Starman Corporation Balance Sheet December 31, 2009 Assets Cash $ 20,000 Marketable securities 30,000 Accounts receivable 50,000 Inventory 100,000 Long term receivables 35,000 Property, plant, and equipment 65,000 Total assets $300,000 Liabilities and Stockholders’ Equity Current liabilities $100,000 Long term liabilities 60,000 Stockholders’ equity 140,000 Total liabilities and stockholders’ equity $300,000 Starman Corporation Income Statement For the Year Ended December 31, 2009 Net sales $400,000 Cost of goods sold 240,000 Gross margin $160,000 Operating expenses 40,000 Income before income taxes $120,000 Income taxes expense 30,000 Net income $ 90,000 What is the receivable turnover for this corporation? Round your answer to one decimal place. Answer a. 4.8 times b. 1.8 times c. 6.0 times d. 8.0 times