BALANCE SHEET $ 1,000.0 $1,000.0 3,000.0 2,000.0 Cash Accts. Receivable Inventories Total current assets 1,000.0 500.0 $5,000.0 $3,500.0 5,000.0 Accounts payable Notes payable Accruals Total current liabilities Long-term bonds Total debt Common stock (5,000 shares) Retained earnings Total common equity Total liabilities & equity $8,500.0 500.0 11,000.0 $11,500.0 Net plant & equip. Total assets 15,000.0 $20,000.0 $20,000.0 INCOME STATEMENT Net sales Operating costs (Cost of Goods Sold) EBIT $ 10,000.0 6,000.0 $ 4,000.0 Less: Interest 600.0 EBT Less: Taxes Net income $ 3,400.0 1,000.0 $ 2,400.0 Calculate the following financial ratio for this company: Inventory Turnover (Using COGS) using 365 days per year A. 6.00 B. 4.00 C.0.17 D. 20.00 E. 6.30 OF. 5.45