E6-25 (similar to) New Day reported the following income statement for the year ended December 31, 2019: (Click the icon to view the income statement.) Requirements 1. Compute New Day's inventory tumover rate for the year. (Round to two decimal places.) 2. Compute New Day's days' sales in inventory for the year. (Round to two decimal places.) Requirement 1. Compute New Day's inventory turnover rate for the year. (Round to two decimal places.) Select the labels and enter the amounts to compute the inventory turnover rate. (Round your answer to two decimal places, X.XX.) Inventory tumover times = year. (Round to two deg e year. (Round to two de New Day Income Statement Year Ended December 31, 2019 rate for the year. (Round nventory turnover rate. $ 130,000 8,800 Net Sales Revenue Cost of Goods Sold: Beginning Merchandise Inventory Net Cost of Purchases Cost of Goods Available for Sale Less: Ending Merchandise Inventory 66,000 74,800 13,600 Cost of Goods Sold 61,200 Gross Profit 68,800 40,400 Operating Expenses 28,400 Net Income ut fields and then click Print Done Choose from any list or enter any number in the in 1 part remaining o