Aim's Companies, a home improvement store chain, reported the following summarized figures: Click the icon to view the income statement.) (Click the icon to view the balance sheets.) Aim's has 80,000 common shares outstanding during 2018 Read the requirements. Requirement 1. Compute the inventory turnover, days' sales in inventory, and gross profit percentage for Aim's Companies for 2018 Compute the inventory turnover. (Round your answer to two decimal places, X.XX.) The inventory turnover = - O times. Compute the days' sales in inventory. (Round interim calculations to two decimal places, X.XX and round your final answer to the nearest days. The days' sales in inventory = - Compute the gross profit percentage. (Round your answer to the nearest tenth of a percent, XX.%) The gross profit percentage- Requirement 2. Compute day sales innovables during 2018. Round informediate calculations to three decimal places. Assume al sales were on account Round intermediate calculations to three decimal places, XXX and round your final answer to the nearest whole day) Days' sales in average receivables Requirement 3. What do these ralios say about Aim's Companies' ability to sell inventory and collect receivables? Assume the following industry averages, inventory turnover days, gross profil percentage 34.7% and days' sale in vere cevable-8.17 days) 44 days's sales in inventory Aim's Corporis have a high amount of inventory on hand and a inventory turnover ratio. This could be an area to look at and compare to the prior your and Industry average. They have a profit percentage, which is a The amount of time it takes to collect receivables som but this would depend on the gross Choose from any list or enter any number in the input folds and then continue to the next question Assets 2018 2017 13,300 12,800 Cash Short-term Investments Accounts Receivable Merchandise Inventory Other Current Assets Total Current Assets 2,100 $ 27,000 7,400 6,800 10,000 May 31, 2018 and 2017 Liabilities 2017 2018 1,200 Total Current Liabilities S/ 23,000 $ 10,000 Long-term Liabilities 13,700 5,400 Total Liabilities 36,700 7,500 Stockholders' Equity 1,800 Common Stock 11,000 25,900 Retained Earnings 40,600 26,000 Total Equity 51,600 51,900 Total Liabilities and Equity 88,300 $ 26,100 11,000 14,800 All Other Assets 53,300 35,000 88,300 $ 25,800 51,900 Total Assets Print Done 8 of 12 (3 complete) Income Statement Aim's Companies Income Statement Years Ended May 31, 2018 and 2017 is 2018 2017 Con $ Net Sales Revenue Cost of Goods Sold Interest Expense All Other Expenses 42,400 $ 20,800 300 6,900 / 14,400 $ 41,100 28,600 140 7,800 ges 4,560 Net Income Tor Print Done
