New Hope reported the following income statement for the year ended December $31,2025$:

$($Click the icon to view the income statement.$)$

Requirements

Compute New Hopelaventory turnover rate for the year. $($Round to two decimal places.$)$

Compute New Hopelsays' sales in inventory for the year. $($Round to two decimal places.$)$

Requirement $1.$ Compute New Hope's inventory turnover rate for the year. $($Round to two decimal places.$)$

Select the labels and enter the amounts to compute the inventory turnover rate. $($Round your answer to two decimal places, X$.$XX$.)$

$\backslash$table$[[,=,$Inventory turnover$],[,=,||$ times$]]$

Data table

$\backslash$table$[[$New Hope$],[$Income Statement$],[$Year Ended December $31,2025],[$Net Sales Revenue,,,$$,148,000],[$Cost of Goods Sold:$],[$Beginning Merchandise Inventory,$$,10,200,,],[$Plus: Net Cost of Inventory Purchased,,$60,000,,],[$Cost of Goods Available for Sale,,$70,200,,],[$Less: Ending Merchandise Inventory,,$13,800,,],[$Cost of Goods Sold,,,,$56,400],[$Gross Profit,,,,$91,600],[$Operating Expenses,,,,$63,200],[$Net Income,,,$$,28,400]]$

Done