Exercise $4-26($Algo$)$ Evaluating efficiency of asset management $[$LO$4-10]$

The $2024$ income statement of Anderson Medical Supply Company reported net sales of $$8$ million, cost of goods sold of $$5\mathrm{.}1$ million, and net income of $$815,000.$ The following table shows the company's comparative balance sheets for $2024$ and $2023$:

$($$ in thousands$)$

$20242023$

Assets

Cash $ $360$ $ $440$

Accounts receivable $760530$

Inventory $1,050850$

Property, plant, and equipment $($net$)2,7002,420$

Total assets $ $4,870$ $ $4,240$

Liabilities and shareholders$$ equity

Current liabilities $ $1,020$ $ $890$

Bonds payable $1,3501,350$

Common stock $1,3001,300$

Retained earnings $1,200700$

Total liabilities and shareholders' equity $ $4,870$ $ $4,240$

Required:

$1.$ Calculate Anderson's turnover ratios for $2024.$