copy the balance sheet and the income statment from module 2. (balance sheet and income statment listed below)

Q1: What is the company's Inventory Turnover rate?

Q2: If the company wishes for a 30-day receivable average, what Accounts Receivable level should they have? If they were able to invest the savings at 7%

how would that impact profits?

Q3: CompuTech's competition is experiencing a 6 X inventory turns. Is CompuTech matching this

performance, and if not, what level of inventory should they be maintaining?

CompuTech's Income Statement For the Month Ending December 31, 2021 Revenue $500,000 Less: Expenses Raw Material Purchases $300,000 Advertising Expense $3,000 Salaries Expense $120,000 Deprecoation Expense $15,000 Travel Expense $2,000 Yearly LTD Retirement Finance Cost Total Expense $5,000 $10,000 -$455,000 $45,000 -$3,500 Income Before Tax Less: income taxes Income after taxes (transferred to retained earnings) $41,500 CompuTech's Balance Sheet as at December 31,2021 ASSETS Current Assets Cash Trade Accounts Receivable Prepaid Expense Inventory $15,000 $35,000 $5,000 $50,000 Total Current Assets $105,000 Property, plant and Equipment Buildings, Structures and Leasehold Improvment Property, Plant and Equipment $10,000 $170,000 Accumulated Depreciation Total Property, Plant and Equipment -$53,000 $127,000 Total Assets $232,000 Liabilities & Stockholders Equity Current Payable Short Term Loan Long Term Liabilities Total Liabilities $17,000 $30,000 $60,000 $107,000 Stockholder's Equity Common Stock Retained Earnings Total Stockholder's Equity $100.000 $25.000 $125,000 Total Liabilities & stockholder's Equity $232,000