College Coasters is a San Diegobased merchandiser specializing in logo-adorned drink coasters. The company reported the following balances in its unadjusted trial balance at December 1.

Cash	$	9,800
Accounts Receivable		1,900
Inventory		500
Prepaid Rent		540
Equipment		660
Accumulated Depreciation		110
Accounts Payable		1,380
Salaries and Wages Payable		300
Income Taxes Payable		0
Common Stock		6,400
Retained Earnings		2,600
Sales Revenue		14,180
Cost of Goods Sold		7,570
Rent Expense		990
Salaries and Wages Expense		1,600
Depreciation Expense		110
Income Tax Expense		0
Office Expenses		1,300

The company buys coasters from one supplier. All amounts in Accounts Payable on December 1 are owed to that supplier. The inventory on December 1 consisted of 1,000 coasters, all of which were purchased in a batch on July 10 at a unit cost of $0.50. College Coasters records its inventory using perpetual inventory accounts and the FIFO cost flow method. During December, the company entered into the following transactions. Some of these transactions are explained in greater detail below.

1. Purchased 400 coasters on account from the regular supplier on 12/1 at a unit cost of $0.52, with terms of n/60.
2. Purchased 1,000 coasters on account from the regular supplier on 12/2 at a unit cost of $0.55, with terms of n/60.
3. Sold 1,900 coasters on account on 12/3 at a unit price of $1.10.
4. Collected $970 from customers on account on 12/4.
5. Paid the supplier $1,380 cash on account on 12/18.
6. Paid employees $490 on 12/23, of which $300 related to work done in November and $220 was for wages up to December 22.
7. Loaded 100 coasters on a cargo ship on 12/31 to be delivered the following week to a customer in Kona, Hawaii. The sale was made FOB destination with terms of n/60.

Other relevant information includes the following at 12/31:

8. College Coasters has not yet recorded $190 of office expenses incurred in December on account.
9. The company estimates that the equipment depreciates at a rate of $9 per month. One month of depreciation needs to be recorded.
10. Wages for the period from December 2331 are $100 and will be paid on January 15.
11. The $540 of Prepaid Rent relates to a six-month period ending on May 31 of next year.
12. The company incurred $700 of income tax but has made no tax payments this year.
13. No shrinkage or damage was discovered when the inventory was counted on December 31.
14. The company did not declare dividends and there were no transactions involving common stock.

Please answer it fully by filling in the proper blanks - 15 entries, income statement, balance sheet, and the inventory turnover ratio + days to sell.

All required information is presented here.

Purchased 400 coasters on account from the regular supplier on 12/1 at a unit cost of $0.52, with terms of n/60. Record the transaction. Note: Enter debits before credits. General Journal Credit Date Dec 01 Debit 208 Inventory Accounts Payable 208 Purchased 1,000 coasters on account from the regular supplier on 12/2 at a unit cost of $0.55, with terms of n/60. Record the transaction. Note: Enter debits before credits. Credit Date Dec 02 General Journal Inventory | Accounts Payable Debit 550 550 Sold 1,900 coasters on account on 12/3 at a unit price of $1.1. Record the transaction. Note: Enter debits before credits. Credit Date Dec 03 General Journal Accounts Receivable Sales Revenue Debit 2,090 Record the cost of goods sold. Note: Enter debits before credits. Credit Date Dec 03 General Journal Cost of Goods Sold Cash Debit 2,090 I 2,090 Collected $970 from customers on account on 12/4. Record the transaction. Note: Enter debits before credits. Date General Journal Debit Credit Dec 04 Paid the supplier $1,380 cash on account on 12/18. Record the transaction. Note: Enter debits before credits. General Journal Debit Credit Date Dec 18 0 Wages for the period from December 23-31 are $100 and will be paid on January 15. Record the transaction. Note: Enter debits before credits. Date General Journal Debit Credit Dec 31 01 O... O O O O 12 > The $540 of Prepaid Rent relates to a six-month period ending on May 31 of next year. Record the transaction. Note: Enter debits before credits. Date General Journal Debit Credit Dec 31 KO ..... O O O O @ 136 The company incurred $700 of income tax but has made no tax payments this year. Record the transaction. Note: Enter debits before credits. Date General Journal Debit Credit Dec 31 No shrinkage or damage was discovered when the inventory was counted on December 31. Record the transaction. Note: Enter debits before credits. General Journal Debit Credit Date Dec 31 The company did not declare dividends and there were no transactions involving common stock. Record the transaction. Note: Enter debits before credits. General Journal Debit Credit Date Dec 31 0 0 Choose the appropriate accounts to be reported on the income statement. Select the 'adjusted from the dropdown, which will then populate the balances in those accounts from the trial balance. However, you will need to calculate and enter the amount of the net income or loss for the year ended December 31. Unadjusted - COLLEGE COASTERS Income Statement For the Year Ended December 31 Use the dropdowns to select the accounts properly included on the balance sheet. The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection. However, you will need to enter the amount of the Equipment (Net of accumulated depreciation), Common stock and Retained earnings as of December 31. Unadjusted Unadjusted COLLEGE COASTERS Balance Sheet As of December 31 Adjusted Calculate the inventory turnover ratio and days to sell, assuming that inventory was $500 on January 1 of this year. (Use 365 days a year. Round your intermediate calculations and final answers to 1 decimal place.) Inventory Turnover Ratio times per year days Days to Sell