Selected Recent Balance Sheet and Income Statement Information for Book

Essay

Selected recent balance sheet and income statement information for Book Products, Inc. follows (in $ millions):
$$\begin{array} { l r } \text { Average accounts receivable } & \$ 9,846 \\\text { Average inventory } & 5,814 \\\text { Net sales } & 56,504 \\\text { Cost of goods sald } & 30,632 \\\text { Pretax incame } & ( 933 ) \\\text { Net income } & ( 1,798 )\end{array}$$ Compute accounts receivable turnover and inventory turnover.