Part 2 Prompts 2.1, 2.2, 2.3, and 2.4 utilize the following information: As of December 31, 2023, Christys Baking Co. (CBC) has the following balance sheet and income statement information. 2023 2022 2021 Inventory $270,000 $130,000 $190,000 Revenues = $125,000 $100,000 $ 80,000 COGS = $ 80,000 $ 80,000 $ 45,000 Gross Profit = $ 50,000 $ 40,000 $ 35,000 Net Income = $ 20,000 $ 15,000 $ 5,000 2.1. Please calculate Inventory for 2023 and 2022 as a percentage of 2021 Inventory.

2.2. Please calculate the inventory turnover ratio for CCC for 2023 and 2022.

2.3. Please calculate the days in inventory for CCC for 2023 and 2022.

2.4. Based on your calculations in 2.1-2.3, did the company sell inventory faster, slower, or the same in 2023 versus 2022? Please describe how the ratios you calculated indicate this.

2.4. If ending inventory for 2023 increased, would CBCs inventory turnover ratio increase, decrease, or stay the same? Why?