Additional Information :

1. Operating expenses include depreciation expense of $2,500
2. Accounts Payable related to the purchase of inventory
3. Equipment that cost $2,000 was sold for $1,500 cash
4. New equipment was purchased during the year for $5,000
5. Common shares were sold for $2,000 cash

Round answers to fit 2 decimal places in all questions (in % questions a 0.12 is presented as 12%, so a 0.124 is rounded as 12% and 0.127 is rounded as 13%)

The accounts receivable turnover at December 20X6 was:

The income statement for the year ended December 31, 20X6, for Total Inc. contains the following information: Total Inc. comparative balance sheet at December 31