16 What is the Inventory Turnover Ratio for 2019? O 1.64 2.50 O 1.31 0.86 Use the following financial statements to answer the remaining questions. Balance Sheet (S in millions) 2019 2018 2019 2018 Current Assets Cash Current Liabilities 2,570 2,820 405 310 Accounts Receivable 3,055 2,640 Long-term Debt 8,100 7,875 Inventory 3,850 3,275 Owner's Equity Total 7,310 6,225 Common Stock 5,250 5,000 Fixed Assets 10,670 10,960 Retained Earnings 2,060 1,490 Total 7,310 6,490 Total Assets 17,980 17,185 Total Liabilities and Equity 17,980 17,185 Income Statement 2019 (S in millions) Sales 9,610 Cost of Goods Sold 6,310 Depreciation 1,370 EBIT 1.930 Interest 630 Taxable Income 1,300 Taxes 455 Net Income 845 Dividend 275 Retained Earnings 570