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Dokic, Inc. reported the following balance sheets for year-end 2004 and 2005 (dollars in millions) Cash Accounts receivable Inventories Total current assets Net fixed assets

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Dokic, Inc. reported the following balance sheets for year-end 2004 and 2005 (dollars in millions) Cash Accounts receivable Inventories Total current assets Net fixed assets Total assets 2005 S 650 450 850 2004 s 500 700 1,800 $4.000 2.450 4.400 Accounts payable Notes payable Wages payable Total current liabilities Long-term bonds Common stock Retained carnings Total common equity Total liabilities and equity S 680 200 S 300 600 200 $1,100 1,000 1,500 1,000 1,200 54,400 4,000 When reviewing the company's performance for 2005, its CFO observed that the company's inventory turmover ratio was below the i ndustry average inventory fumover is the most likely estimate of the company's sales (in millions of dollars) for 2005? S 2,940 5,038 s7,250 $10,863 530,765

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