please answer all requirements with clear notes so i am able to understand

please answer all requirements with clear notes so i am able to understand

Victory's Companies, a home improvement store chain, reported the following summarized figures: (Click the icon to view the income statement.) (Click the icon to view the balance sheets.) Victory's has 20,000 common shares outstanding during 2024. Read the requirements, Requirement 1. Compute the inventory turnover, days' sales in inventory, and gross profit percentage for Victory's Companies for 2024. Compute the inventory turnover. (Round your answer to two decimal places, X.XX.) The inventory turnover = times. Balance Sheets Income Statement X Victory's Companies Victory's Companies Balance Sheet Income Statement May 31, 2024 and 2023 Years Ended May 31, 2024 and 2023 Assets Liabilities 2024 2023 2024 2023 2024 2023 Net Sales Revenue $ 42,400 $ 41,600 Cash $ 2,200 $ 1,300 Total Current Liabilities $ 27,000 $ 12,900 Cost of Goods Sold 22,500 24,900 12,300 29,000 12,100 Short-term Investments 12,000 Long-term Liabilities Interest Expense 400 280 Accounts Receivable 7,400 5,300 Total Liabilities 39,300 25,000 6,900 8,400 All Other Expenses Merchandise Inventory 6,800 6,300 Stockholders' Equity $ 12,600 $ 8,020 6,000 Other Current Assets 2,100 Common Stock Net Income 12,000 12,000 31,100 Total Current Assets 27,000 Retained Earnings 18,000 51,400 Print Done All Other Assets 31,000 28,000 Total Equity 43,100 30,000 $ 82,400 $ 55,000 $ 82,400 $ Total Liabilities and Equity 55,000 Total Assets Print Done