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Score: 0 of 1 pt 2 of 6 (3 complete) HW Score: 3.33%, 0.33 of 10 X Starter 18-6 i Data Table Aim's Companies Pty Ltd Aim's Companies Pty Ltd, a home improvement store chain, reported the following sur (Click the icon to view the income statement.) (Click the icon to view Requirements 1. Calculate the rate of inventory turnover, days in inventory and gross profit perce 2. Calculate days' sales in average receivables during 2016. Round dollar amount Balance sheet as at 31 October 2016 and 2015 Assets 2016 2015 Liabilities 2016 2015 Requirement 1. Calculate the rate of inventory turnover, days in inventory and gross Cash 2 100 000 $ 1 600 000 Total current liabilities $ 24 000 000 $ 12 900 000 The rate of inventory turnover for 2016 is 3.426 times. (Enter your answer as a decim Short-term investments 24 000 000 12 900 000 12 500 000 11 000 000 Non-current liabilities The days in inventory for 2016 is 107 days. (Round all intermediate values to three d Accounts receivable 7 400 000 5 600 000 Total liabilities 36 900 000 $ 25 400 000 Inventory The gross profit percentage for 2016 is 60.8 %. (Enter your answer as a percentage. 7 300 000 Shareholders' equity 6 300 000 1 800 000 Other current assets 10 000 000 Share capital $ 13 000 000 $ 13 000 000 Requirement 2. Calculate days' sales in average receivables during 2016. Round doll Days' sales in average receivables during 2016 is 40 days. (Round all intermediate v Total current assets 50 800 000 $ 28 900 000 26 300 000 Retained earnings 10 900 000 28 000 000 23 000 000 Total equity $ 41 900 000 $ All other assets 23 900 000 78 800 000 $ 49 300 000 78 800 000 $ 49 300 000 Total assets Total liabilities and equity Print Done Question is complete. Tap on the red indicators to see incorrect answers. Score: 0 of 1 pt 2 of 6 (3 complete) HW Score: 3.33%, 0.33 of 10 p X Starter 18-6 A X Data Table Aim's Companies Pty Ltd, a home improvement store chain, reported the following summarised figures: E (Click the icon to view the income statement.) (Click the icon to view the balance sheets.) Requirements 1. Calculate the rate of inventory turnover, days in inventory and gross profit percentage for 2016. 2. Calculate days' sales in average receivables during 2016. Round dollar amounts to three decimal places. Aim's Companies Pty Ltd Income statement for the years ended 31 October 2016 and 2015 Requirement 1. Calculate the rate of inventory turnover, days in inventory and gross profit percentage for 2016. 2016 2015 The rate of inventory turnover for 2016 is 3.426 times. (Enter your answer as a decimal. Round the rate to three decimal Net sales 59 400 000 $ 38 800 000 The days in inventory for 2016 is 107 days. (Round all intermediate values to three decimal places as needed. Round you Cost of sales 23 300 000 29 300 000 Interest expense 300 000 280 000 The gross profit percentage for 2016 is 60.8 %. (Enter your answer as a percentage. Round to one decimal place as need Income tax expense 2 500 000 1 400 000 Requirement 2. Calculate days' sales in average receivables during 2016. Round dollar amounts to three decimal places. 4 500 000 7 800 000 All other expenses Days' sales in average receivables during 2016 is 40 days. (Round all intermediate values to three decimal places as nee 28 800 000 $ 20 000 Profit Print Done Question is complete. Tap on the red indicators to see incorrect answers