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Exhibit 4.1 The balance sheet and income statement shown below are for Koski Inc. Note that the firm has no amortization charges, it does not

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Exhibit 4.1 The balance sheet and income statement shown below are for Koski Inc. Note that the firm has no amortization charges, it does not lease any assets, none of its debt must be retired during the next 5 years, and the notes payable will Retained earnings Total common equity Total liabilities and equity 8,580$14,040$39,000 Income Statement (Millions of \$) Net sales $58,5002016 Cost of good sold 54,698 Depreciation Earnings before interest and taxes (EBIT) $2,779 Less interest Earnings before taxes (EBT) $1,950 Taxes Net income Other data: Shares outstanding (millions) 500.00 Common dividends (millions of \$) $443.63 Int rate on notes payable \& L-T bonds 6.25% Federal plus state income tax rate 35% Year-end stock price $30.42 Refer to Exhibit 4.1. What is the firm's inventory turnover ratio? Do not round your intermediate calculations. 4.38 5.77 5.58 5.30 5.53

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