Please explain the process on how to compute accounts receivable turnover The company’s income statements for the years ended December 31, 2017 and…

 Please explain the process on how to compute accounts receivable turnover

The company’s income statements for the years ended December 31, 2017 and 2016, follow. Assume that all sales are on credit:

For Year Ended December 31 2017 2016 Sales       $ 673,500         $ 532,000   Cost of goods sold $ 411,225         $ 345,500         Other operating expenses   209,550           134,980         Interest expense   12,100           13,300         Income taxes   9,525           8,845         Total costs and expenses         642,400           502,625   Net income       $ 31,100         $ 29,375   Earnings per share   $1.90    $1.80 

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