Hi,

I'm requesting your help.

Thank you,

Michelle

Requirement 1. Compute the inventory turnover, days' sales in inventory, and gross profit percentage for Shine's Companies for 2018. Compute the inventory turnover. (Round your answer to two decimal places, XXX) Cost of goods sold / Average merchandise inventory 3.30imes The inventory turnover Compute the days' sales in inventory. (Round inteim caloulations to two deoimal places, XXX and round your final answer to the nearest whole day.) The days' sales in inventory days Requirement 1. Compute the inventory turnover, days' sales in inventory, and gross profit percentage for Shine's Companies for Compute the inventory turnover. (Round your answer to two decimal places, X.XX) 3.36 times Cost of goods sold / Average merchandise inventory The inventory turnover Compute the days' sales in inventory. (Round interim caloulations to two decimal places, XXX and round your final answer to the The days' sales in inventory days. 365 days/ Accounts receivable turmover ratio 365 days / Inventory tumover 365 days /Total current assets Cost of goods sold/ Average merchandise inventory Cost of goods sold / Net sales revenue Gross profit/ Net sales nevenue Gross profit Total assets Net credit sales / Average net accounts receivable Net credit sales/Net income Balance Sheets perd Shine's Companies Balance Sheet May 31, 2018 and 2017 Liabilities Assets 2017 2018 2017 2018 12,900 25.000 S Total Current Liabilities 1.600 S 2,200 $ Cash 12,700 13.700 Long-term Liabilites 13,000 24,000 Short-term Investments 25.000 38,700 Total Liabilities 5.500 7.400 Accounts Receivable Stockholders' Equity 9.700 6,800 Merchandise Inventory 11,000 2,100 11,000 9,000 Common Stock Other Current Assets 23,300 29.700 31.900 Retained Eamings 49.400 Total Current Assets 34,300 40.700 28.000 Tatal Equity 30,000 All Other Assets 79.400 $ 59,900 79,400 S 59.900 S Total Liabilities and Equity Total Assets Shine's Companies Income Statement Years Ended May 31, 2018 and 2017 2017 2018 55.400 S 42,900 Net Sales Revenue 29.300 27.700 Cost of Goods Sold 280 700 Interest Expense 7.100 6.200 All Other Expenses 6,220 20.800 S Net Income