Financial statements for Remington Inc. follow. Remington Inc. Consolidated Statements of Income (In thousands except per share amounts) 2010 2011 2009 Net sales 7,245,088 6,944,296 $6,149,218 Cost of goods sold (5,286,253) (4,953,556) (4,355,675) Gross income $1,958,835 $1,990,740 $1,793,543 General and administrative expenses (1,259,896) (1,080,843) (1,202,042) Special and nonrecurring items 2,617 $788,698 $712,700 Operating income 701,556 Interest expense (63,685) (62,398) (63,927) Other income 7,308 10,080 11,529 Gain on sale of investments 9,117 Income before income taxes 645,179 745,497 $660,302 290,000 Provision for income taxes 254,000 257,000 $ 403,302 Net income 391,179 $455,497 Net income per share $1.08 $1.25 $1.11 ASSETS Dec. 31, Dec. 31, 2010 2011 Current assets: Cash and equivalents 41,235 320,558 Accounts receivable 1,056,911 837,377 803,707 Inventories 733,700 Other 109,456 101,811 Total current assets $2,220,625 $1,784,130 Property and equipment, net 1,666,588 1,813,948 Other assets 244,092 248,372 Total assets 4,131,305 $3,846,450 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities 250,363 $309,092 Accounts payable Accrued expenses 347,892 274,220 Certificates of deposit 15,700 Income taxes 93,489 137,466 707,444 $720,778 Total current liabilities Long-term debt $650,000 541,639 Deferred income taxes 275,101 274,844 Other long-term liabilities 61,267 41,572 Total liabilities $1,693,812 $1,578,833 Stockholders' equity: Common and preferred stock $189,727 $189,727 Paid-in capital 128,906 127,776 Retained earnings 2,136,794 2,397,112 $2,715,745 $2,454,297 Less: Treasury stock, at cost (278,252) (186,680) Total stockholders' equity $2,437,493 $2,267,617 Total liabilities and stockholders $4,131,305 $3,846,450 equity o respond to the following requirements. Use the information provided above and below Statement Item January 1, 2010 (In Thousands) Accounts receivable 752,945 698,604 3,485, 233 Inventories Total assets 1. Compute the three asset efficiency ratios for 2010 and 2011. Round your answers to two decimal places 2011 2010 Accounts receivable turnover ratio Inventory turnover ratio Asset turnover ratio 2. Indicate the length of Remington's operating cycle for the years ended December 31, 2011, and December 31, 2010. Round intermediate calculations and final answers to two decimal places. 2011 days 2010 days