I need help in calculating the:

1. Accounts receivable turnovers=net credit sales/ average accounts receivable

2. Average days to collect receivables= 365 days/ account receivable turnover

3. Inventory turnover = costs of goods sold - Average inventory

Year 3 800,000 $ Milavec Company Income Statement and Statement of Retained Earnings For the Years Ending Year 5 Year 4 Sales $ 1,600,000 $ 900,000 $ Cost of Goods Sold Beginning Inventory 70,000 $ 43,000 $ Purchases 1,078,000 $ 637,000 $ Goods available for sale $ 1,148,000 $ 680,000 $ Ending Inventory 60,000 $ 70,000 $ Cost of Goods Sold $ 1,088,000 $ 610,000 $ Gross Margin $ 512,000 $ 290,000 $ Operating Expenses 480,000 $ 248,000 $ Income before taxes $ 32,000 $ 42,000 $ Income taxes $ 12,800 $ 17,000 $ Net Income $ 19,200 $ 25,000 $ Plus: Beg bal Retained Earnings $ 162,000 $ 137,000 $ Less: Dividends $ 6,000 $ $ Ending Balance Retained Earnings 175,200 $ 162,000 $ 40,000 483,000 523,000 43,000 480,000 320,000 280,000 40,000 18,000 22,000 130,000 15,000 137,000 . t 5 15 View as Text Download O Type here to search O | C PA 100% 74F > G 12:39 AM 7/24/2021 7. Milavec Company Balance Sheet As of December 31 Year 5 Year 4 Year 3 Assets Cash Marketable Securities Notes Receivable Accounts Receivable Merchandise Inventory Prepaid Expenses Property Plant and Equipment (net) Total Assets 36,200 $ 20,000 $ $ 65,000 $ 60,000 $ $ 340,000 $ 521,200 $ 20,000 $ 20,000 $ 4,000 $ 50,000 $ 70,000 $ 4,000 $ 340,000 $ 508,000 $ 17,000 22,000 3,000 56,000 43,000 4,000 310,000 455,000 $ $ $ $ $ Liabilities and Stockholder's Equity Accounts Payable Salaries Payable Taxes Payable $ Bonds Payable, 8% Preferred Stock, 6%, $100 par, cumulative $ Common Stock, $10 par Retained Earnings $ Total Liabilities and Stockholders' Equity $ 40,000 $ 2,000 $ 4,000 $ 100,000 $ 50,000 $ 150,000 $ 175,200 $ 521,200 $ 40,000 $ 2,000 $ 4,000 $ 100,000 $ 50,000 $ 150,000 $ 162,000 $ 508,000 $ 38,000 3,000 2,000 100,000 50,000 125,000 137,000 455,000 o t 5 15 View as Text Download 2 >> Type here to search o 100% 74F 12:45 AM 7/24/2021