Balance Sheet Assets Current Year Liabilities & Owner's Equity Last Current Year Year Current Liabilities Accounts Payable $ 789 Current Assets Cash $ 435 Accounts Receivable 578 $ 789 Inventory Total 901 Total $ 1,914 Long Term Debt $ 1,111 Fixed Assets I [ Total Liabilities $ 1,900 Net PP&E S 8,789 Owner's Equity $ 8,803 Total Assets Total Liab. And S 10,703 Equity $ 10,703 Current Year Income Statement Sales Cost of Goods Sold Depreciation S67,500 7,890 355 Current Year Income Statement Sales Cost of Goods Sold Depreciation Earnings Before Interenst and Taxes Interest Earnings Before Taxes Taxes Net Income $67,500 7,890 333 $59,277 652 $58,625 23,450 _35,175 Solve for the inventory turnover with the given income statement and balance sheet (assume all sales are made on credit). Assume that there are 365 days in a year. 7.49 5.73 8.76 0 9.51