Question: Selected 2016 balance sheet and income statement information from Trunk, Inc. and Taylor S. follows: ($ millions) Sales Cost of goods sold Average accounts receivable

 Selected 2016 balance sheet and income statement information from Trunk, Inc.

Selected 2016 balance sheet and income statement information from Trunk, Inc. and Taylor S. follows: ($ millions) Sales Cost of goods sold Average accounts receivable Average inventory Average total assets Taylor S. $5,530 2,510 38 408 1,814 Trunk, Inc. $11.908 3,243 318 926 5,740 A Compute the following turnover rates for each company: 1. Accounts receivable turnover 2. Inventory turnover 3. Asset turnover

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