The 2007 and 2008 balance sheets for Alan Jack and Sons showed net accounts rece

The 2007 and 2008 balance sheets for Alan Jack and Sons showed net accounts receivable of $10000 and $14000 respectively and inventory of $8000 and $6000 respectively. Their 2008 income statement showed net sales of $109500 and cost of goods sold of $70000. Compute the following ratios for 2008:1. Accounts receivable turnover.2. Days sales in receivables.3. Inventory turnover.