January 31, 2016 Hacome Statement for ending Revenue Service Total revenue Lester revenue product Service total cost of revenue Gross profit 325,00 75 00 4o6. o 20OOOO I5OOO 215,000 IS DOO 30, _5 2,500 3, OOO Operating expense Salamies rent advertising Misc. total operating expense Net income Assets Current cash 750,000 AIR 35,000 tiventory 40,ooo prepaind insurang 10,000 total 235,000 36,500 148,500 Liabilities Current to A/P 1600D Notes payable ocul Fototeurrem 35,0all 75,000 Fixed equipment furniture robotics total Long-term Notes payable 50,000 total longtem 900001 total liabilities 125,000 +25 000 Owner's equity 36-0,000 capital To tat-assets 2390000 total liabilities t owner 360,oo Calculate invertery_tumover rate 12 Calculate number of days to turn inventory based required answer above