New Love reported the following income statement for the year ended December 31, 2019: (Click the icon to view the income statement.) x Data Table Requirements 1. Compute New Love's inventory turnover rate for the year. (Round to two decimal places.) 2. Compute New Love's days' sales in inventory for the year. (Round to two decimal places.) New Love Income Statement Requirement 1. Compute New Love'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.) $ 148,000 Inventory turnover times Requirement 2. Compute New Love's days' sales in inventory for the year. (Round to two decimal places.) Select the labels and enter the amounts to compute the days' sales in inventory for the year. (Enter all amounts to two decimal places, X.XX.) 75,000 Year Ended December 31, 2019 Sales Revenue Cost of Goods Sold: Beginning Merchandise Inventory S 11,400 Net Cost of Purchases Cost of Goods Available for Sale 86.400 Less: Ending Merchandise Inventory 16,800 Cost of Goods Sold Gross Profit Operating Expenses Days' sales in inventory days 69,600 78,400 56,400 $ 22,000 Net Income Print Done