QUESTION 43 What is the fire's inventory turnover ratie! Exhibit for questions # 40-50 The balance sheet and income statement shown below are for Koski Ine. Note that the firm has no amortization charpes, it does not lease any assets, none of its debt must be retired during the need 5 years, and the notes payable will be rolled over Balance Sheet Millions of Assets Cash and securities Accounts receivable Inventories Total current assets Net and equipment 2015 $ 2.500 11,500 16.000 $30,000 $20.000 $50,000 Total assets $ 9.500 Liabilities and Equity Accounts payable Accruals Notes payable Total current liabilities 5,500 1,002 $22.000 $15.000 $37,000 $ 2,000 Long-term bonds Total liabilities Common stock Retained earning Totalcommon equity $11.000 $50,000 Total liabilities and equity Income Statement (Millions of $) 2015 Net sales $87,500 81,813 Operating costs except depreciation Depreciation 1.531 Earnings before interest and taxes (EBIT) $ 4,156 Less interest 1,375 $ 2,781 Earnings before taxes (EBT) Taxes 973 Net income $ 1,808 Other data: Shares outstanding (millions) 500.00 Common dividends $632.73 6.25% Int rate on notes payable & L-T bonds Federal plus state income tax rate Year-end stock price 35% $43.39 a. 5.47 5.3.74 c. 6.03 0.6.33 6.63