ased upon the supplied income statement and balance sheet:

What is the Inventory Turnover Ratio in 2017?

What is the Debt/Equity Ratio in 2017?

a- 3.84 & 190.53%

b-8.34 & 150.53%

c-4.84 &180.53%

d-4.38 & 189.53%

2 3 4 5 6 Income Statement Sales Cost of goods sold Depreciation Selling & admin. expenses EBIT Interest expense Taxable income Taxes Net income 2017 $5,760,000 $3,045,000 $302,500 $1,620,000 $792,500 $174,000 $618,500 $281,300 $337,200 7 8 9 10 11 12 13 14 15 2017 2016 16 17 18 19 $41,100 $590,000 $438,100 $1,069,200 $2,821,000 $3,890,200 $95,000 $1,648,200 $1,146,500 $2,889,700 $6,771,000 $9,660,700 20 21 22 23 Balance Sheet, Year-End Assets Cash Accounts receivable Inventory Total current assets Fixed assets Total assets Liabilities and Stockholders' Equity Accounts payable Short-term debt Total current liabilities Long-term bonds Total liabilities Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity 24 25 26 27 28 $312,400 $505,000 $817,400 $1,733,800 $2,551,200 $313,900 $1,025,100 $1,339,000 $3,890,200 $1,176,000 $1,445,500 $2,621,500 $5,777,400 $8,398,900 $313,900 $947,900 $1,261,800 $9,660,700 29 30 31 32