The Following Information Is from the Annual Financial Statements of Nancy

question 59

Multiple Choice

The following information is from the annual financial statements of Nancy Company.
$$\begin{array} { l c c r } & 2013 & 2012 & 2011 \\\text { Net sales } & \$ 3 0 7 , 0 0 0 & \$ 2 3 8 , 0 0 0& \$ 2 8 5 , 0 0 0 \\\text { Accounts receivable, net (year-end) } & 47,900 & 45,700 & 42,400\end{array}$$

What is the accounts receivable turnover ratio for 2012?

• A) 6.41
• B) 4.97
• C) 6.72
• D) 5.40
• E) 5.20