On January 1, 2021, the general ledger of Tripley Company included the following account balances:

Accounts	Debit			Credit
Cash	$	118,000
Accounts receivable		48,000
Allowance for uncollectible accounts				$	13,800
Inventory		30,800
Building		110,800
Accumulated depreciation					18,000
Land		216,000
Accounts payable					60,000
Notes payable (8%, due in 3 years)					84,000
Common stock					108,000
Retained earnings					239,800
Totals	$	523,600		$	523,600

The $30,800 beginning balance of inventory consists of 308 units, each costing $100. During January 2021, the company had the following transactions:

January		2		Lent $28,000 to an employee by accepting a 6% note due in six months.
		5		Purchased 3,900 units of inventory on account for $429,000 ($110 each) with terms 1/10, n/30.
		8		Returned 100 defective units of inventory purchased on January 5.
		15		Sold 3,700 units of inventory on account for $510,600 ($138 each) with terms 2/10, n/30.

		17		Customers returned 200 units sold on January 15. These units were initially purchased by the company on January 5. The units are placed in inventory to be sold in the future.
		20		Received cash from customers on accounts receivable. This amount includes $36,800 from 2020 plus amount receivable on sale of 3,100 units sold on January 15.
		21		Wrote off remaining accounts receivable from 2020.
		24		Paid on accounts payable. The amount includes the amount owed at the beginning of the period plus the amount owed from purchase of 3,500 units on January 5.
		28		Paid cash for salaries during January, $36,000.
		29		Paid cash for utilities during January, $18,000.
		30		Paid dividends, $3,800.

Month-end adjusting entries:

1. Of the remaining accounts receivable, the company estimates that 10% will not be collected.
2. Accrued interest revenue on notes receivable for January.
3. Accrued interest expense on notes payable for January.
4. Accrued income taxes at the end of January for $5,800.
5. Depreciation on the building, $2,800.

I need help with analysis.

Using the information from the requirements above, complete the 'Analysis' tab. (Enter your inventory turnover ratio and gross profit ratio in 1 decimal place.)

Dates: Jan 02to:Jan 30

Analyze how well 3D Family Fireworks manages its receivables
(a) Calculate the inventory turnover ratio for the month of January. If the industry average of the inventory turnover ratio for the month of January is 4.5 times, is the company selling its inventory more or less quickly than other companies in the same industry?
The inventory turnover ratio is:		times
The company is managing its inventory more efficiently. (true or false)	True
(b) Calculate the gross profit ratio for the month of January. If the industry average gross profit ratio is 37%, is the company more or less profitable per dollar of sales than other companies in the same industry?
The gross profit ratio is:		%
The company is more profitable than other companies.	False
(c) Used together, what might the inventory turnover ratio and gross profit ratio suggest about the companys business strategy? Is the companys strategy to sell a higher volume of less expensive items or does the company appear to be selling a lower volume of more expensive items?
The companys business strategy appears to be selling	higher volume of less profitable