Tungsten Company, Inc., sells heavy construction equipment. There are 13,000 shares of capital stock outstanding. The annual fiscal period ends on December 31. The following condensed trial balance was taken from the general ledger on December 31, Current Year: Account Titles Debit Credit Cash $ 33,700 Accounts receivable (net) 14,800 Inventory, ending 52,000 Operational assets 40,400 Accumulated depreciation $ 18,500 Liabilities 25,000 Capital stock 73,800 Retained earnings, January 1, Current Year 12,280 Sales revenue 147,600 Sales returns and allowances 6,800 Cost of goods sold 79,800 Selling expense 15,300 Administrative expense 16,100 Bad debt expense 2,300 Sales discounts 8,000 Income tax expense 7,980 Totals $ 277,180 $ 277,180 The beginning balance in Accounts Receivable (net) was $16,200. Compute the receivables turnover ratio.