Required Information P6-4 (Algo) Preparing an Income Statement and Computing the Receivables Turnover Ratio with Discounts, Returns, and Bad Debts LO6-1, 6-2, 6-3 The following information applies to the questions displayed below.] Tungsten Company, incorporated, sells heavy construction equipment. There are 14.500 shares of capital stock outstanding. The annual fiscal period ends on December 31. The following condensed trial balorice was taken from the general ledger on December 31, Current Year: Account 11tles Cach Accounts receivable (net) Inventory ending Operational assets Accumulated depreciation Capital stock Retained earnings, January 1, Current Year salos nevSCHE Sales returns and allowances Cost of goods sold selling expense Administrative expense Bad debt expense: Income tag cupons Totals Debut Credit P6-4 Part 2 2. The beginning balance in Accounts Receivable (net) was $16.300. Compute the receivables turnover ratio. Answer is not complete. Receivables Turnover Ratio Numerator Denominator Average nel trade accounts rece-vable