ABC Corporation has a debt/equity ratio of 0.4, total debt of $400,000, sales of $50,000, cost of goods sold of $30,000, inventory of $10,000, and account receivable of $20,000. It is known that all sales are credit sales. a) What is the value of the total assets in ABC Corporation? (3 marks)

b) Calculate the inventory turnover and thus the days sales in inventory. (3 marks)