At the end of the year, the following information was obtained from the accounting records of Harrison Electronics, Inc.

Sales (all on credit)	$	2,750,000
Cost of goods sold		1,781,000
Average inventory		375,000
Average accounts receivable		282,000
Interest expense		45,000
Income tax expense		84,000
Net income		159,000
Average investment in assets		1,800,000
Average stockholders' equity		895,000

Instructions

a.

1.

Compute the inventory turnover from the given information. (Round your answer to 2 decimal places.)

2.	Compute the accounts receivable turnover from the given information. (Round your answer to 2 decimal places.)

3.

Compute the total operating expenses from the given information.

.

Compute the gross profit percentage from the given information. (Round your answer to nearest whole percentage. i.e.0.123 as 12%.)Compute the return on average stockholders' equity from the given information. (Round your percentage answer to 1 decimal place. i.e. 0.1234 as 12.3%.)

6.	Compute the return on average assets from the given information. (Round your answer to nearest whole percentage. i.e.0.123 as 12%.)

Please show each step how to solve