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Kimmel, Financial Accounting,,cust oeiit Help l (e) Ratio Analysis Zipper Corporation reported the following condensed income statement for 2015 Sales Cost of goods sold Gross

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Kimmel, Financial Accounting,,cust oeiit Help l (e) Ratio Analysis Zipper Corporation reported the following condensed income statement for 2015 Sales Cost of goods sold Gross profit Less expenses Net income before taxes Less income taxes Net income after taxes $6,000,000 4,200,000 $1,800,000 -1,500,000 $300,000 120,000 $180,000 Assume the following Average inventory Average accounts receivable Average accounts payable $700,000 $1,200,000 $300,000 (Use 365 days a year) Compute the following: (Round answers to 2 decimal places, e.g.52.75.) Inventory turnover Accounts receivable turnover Average number of days to sell an iten Average number of days to collect an account receivable times times days days F3 F6 F8

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