Selected financial statement Data for Ibra Co. are presented below Balance Sheet for the years ended December 31 2017 2016 Current Assets Cash 98 84 Acct receivable net 188 165 422 393 708 642 2,880 2,731 3,588 3,373 Inventory Total current assets Property, plant, and equipment Total assets Liabilities and Owners' Equity Accounts payable Notes payable Total current liabilities Long-term debt Total Liabilities 344 312 196 231 540 543 457 531 997 1074 Owners' equity Share-capital 550 500 550 500 2,041 1,799 Share-capital Retained earnings Total Stockholders' Equity Total liabilities and owners' equity 2,299 2,591 3,588 3,373 Income statement for the years ended December 31 2016 2017 Items Sales Revenue 2,500 (1,500) 2,000 (1.200) 1000 800 (400) (250) 600 550 Less: Cost of Goods Sold Gross Profit Selling Administration Expenses Income before interest and tax expenses Interest expenses Income before income tax Income Taxes (35%) Net Income (120) 430 (300) 300 (105) 195 (151) 280 The Accounts Receivable turnover for December 31, 2017 is: Less: Cost of Goods Sold (1,500) 11,200) Gross Profit 1000 800 Selling Administration Expenses (400) (250) Income before interest and tax expenses 600 550 Interest expenses (300) (120) Income before income tax 300 430 Income Taxes (35%) (105) (151) Net Income 195 280 The Accounts Receivable turnover for December 31, 2017 is: Select one: e a. 13.798 b. 12.121 O c. None of the answers are correct d. 1.756 e. 1.523