Question 3 Winnipeg Corporation has issued common shares only. The company produces and sells down-filled winter coats and has credit terms of net 30. Winnipeg has been successful and has a gross profit margin of 20%. The information shown below was taken from the company's financial statements: Beginning inventory.... Purchases...... Ending inventory ...... Average accounts receivable Average shareholders' equity. Sales (all on credit).... Profit..... $ 482,000 4,146,000 540,000 700,000 3,500,000 5,110,000 420,000 Cost of goods sold = $4,088,000 Instructions Calculate and comment on the following: a) Receivables turnover and the collection period. b) The inventory turnover and the days sales in inventory. c) Return on equity