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Given the following financial statements for GM, what is the inventory turnover ratio? (Round your answer to the nearest hundredths place value.) General Motors: Income

Given the following financial statements for GM, what is the inventory turnover ratio? (Round your answer to the nearest hundredths place value.)

General Motors: Income Statement

12/31/14

Total Revenue

155,929,000

Cost of Revenue

142,121,000

Gross Profit

13,808,000

Operating Expenses

Selling, General, and Administrative

12,158,000

Non-Recurring

120,000

Operating Income or Loss

1,530,000

Net Income

3,949,000

General Motors: Balance Sheet

12/31/14

Cash and Cash Equivalents

20,292,000

Short-Term Investments

9,222,000

Net Receivables

35,366,000

Inventory

13,642,000

Other Current Assets

5,148,000

Total Current Assets

83,670,000

Long-Term Investments

24,356,000

Property, Plant, and Equipment

34,803,000

Goodwill

1,427,000

Intangible Assets

4,983,000

Other Assets

3,024,000

Deferred Long-Term Asset Charges

25,414,000

Total Assets

177,677,000

Current Liabilities

Accounts Payable

50,713,000

Short/Current Long-Term Debt

14,988,000

Total Current Liabilities

65,701,000

Long-Term Debt

31,853,000

Other Liabilities

44,099,000

Minority Interest

567,000

Total Liabilities

142,220,000

Stockholders Equity

Common Stock

16,000

Retained Earnings

14,577,000

Capital Surplus

28,937,000

Other Stockholder Equity

-8,073,000

Total Stockholder Equity

35,457,000

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