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The table below contains selected information from recent financial statements of The Tool Station, Incorporated, and Howard's Companies, Incorporated, two companies in the home

The table below contains selected information from recent financial statements of The Tool Station, Incorporated, and Howard
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The table below contains selected information from recent financial statements of The Tool Station, Incorporated, and Howard's Companies, Incorporated, two companies in the home improvement retail industry ($ in millions): Net sales Cost of goods sold Year-end inventory Tool Station Howard's Tool Station Howard's Tool Station Tool Station Howard's 1/28/2020 $ 101,804 67,448 13,648 Required: Calculate the gross profit ratio, the inventory turnover ratio, and the average days in inventory for the two companies for their fiscal years ending in 2020. Note: Use 365 days a year. Round "Inventory turnover ratio" to 2 decimal places. Enter dollar amounts in millions rounded to the nearest whole number. Choose Numerator: Choose Numerator: 1/29/2019 $ 95,495 63,182 13,449 Choose Numerator: Gross Profit Ratio 1 1 2/2/2020 $ 69,519 46,110 12,293 Howard's Inventory Turnover Ratio 1 1 1 1 1 2/3/2019 $ 65,917 43,453 11,358 Choose Denominator: Average Days in Inventory Choose Denominator: Choose Denominator: = = = = = = = = = = = Gross Profit Ratio Gross profit ratio 0% % Inventory Turnover Ratio Inventory turnover ratio Average Days in Inventory Average days in inventory times times days days Tool Station Howard's Tool Station Howard's Tool Station Howard's Choose Numerator: Accounts receivable Cost of goods sold Current assets Current liabilities Choose Numerator: Inve Aver nearest whole number. Tool Station Howard's Tool Station Howard's Tool Station Howard's Choose Numerator: Current assets Current liabilities Gross profit Net sales Year-end inventory Choose Numerator: Inve Aver

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