15 points 6 eboo Prin References Markus Company's common stock sold for $3.25 per share at the end of this year. The company paid preferred stock dividends totalling $4,400 and a common stock dividend of $0.69 per share this year. It also provided the following data excerpts from this year's financial statements: Cash Accounts receivable Inventory Current assets Total assets Current liabilities Total liabilities Preferred stock Common stock, $1 par value Total stockholders' equity Total liabilities and stockholders' equity Beginning Balance Ending Balance $39,000 $72,000 $ 61,900 172.900, $ $ 531,000 $ 35,200 $56,200 $ 72,000 $163.400 550,400 $69,000 $60,000 $ 156,000, $140,400 $44,000 $44,000 $88,000 $88,000 375,000 $ $410,000 550,400 $ 531,000 This Year $850.000 Save & Exil Chew 6 Current liabilities Total liabilities Preferred stock Common stock, $1 per value Total stockholders' equity $69.000 $ 60.000 $ 156,000, $140,400 $44,000 $ 44,000 $88,000 $ 88,000 $ 375,000 $410,000 Total liabilities and stockholders' equity $ 531,000 $ 550,400 Book Print rences Sales (all on account) Cost of goods sold Gross margin Net operating income Interest expense Net income This Year $850,000 $493,000 $357,000 $ 173,375 $ 9,500 $110,000 $88.000 Total stockholders' equity $ 375,000, $410,000 Total liabilities and stockholders' equity $ 531,000 550,400 Print References Sales (all on account) Cost of goods sold Gross margin This Year $850,000 $493,000 $357,000 Net operating income $ 173,375 Interest expense Net income $ 9,500 $110,000 Required: What is the inventory turnover? (Round your answer to 2 decimal places.) inventory turnover Prev Next >