1. ABC Had sales of P12,000,000 of which all were on credit. Its operations resulted to a gross profit margin of 60%. If the inventory was P600,000 and P1,000,000 at the beginning and end of the year, what is the inventory turnover?* Your answer por 2. Review the incomplete horizontal analysis shown in the image. Assuming that for 2021, the debt-to- equity ratio of the firm is 1:2. and 40% of the liabilities is current, what is the current ratio? ? Current Assets Noncurrent Assets 2020 in pesos 2021 in percent P??? 2,500,000 105% P3,000,000 22222 Total Assets