1. Compute the inventory turnover ratio and accounts receivable turnover ratio for 2017.

(Round your answers to 2 decimal place.)

Assume that for the 2017 fiscal year, AstroCo reported sales revenue of $3.1 billion and cost of goods sold of $1.7 billion. 2017 2016 $ Fiscal Year Balance Sheet (in millions) Cash Accounts Receivable, less allowance of $15 and $15 Inventories Prepaid Expenses Other Current Assets Accounts Payable Wages Payable Income Tax Payable Other Current Liabilities 88 $ 58 475 419 258 238 20 15 416 363 110 69 50 78 11 72 228 214 Assuming that all sales are on credit