Question 7 Not yet answered Smithson Electrical Fixtures reported the following income statement for the year ended December 31, 2019. SHOW WORK FOR PARTIAL CREDIT Marked out of 15.00 Flag question $258,000 Smithson Electrical Fixtures Income Statement Year Ended December 31, 2019 Sales Revenue Cost of Goods Sold Beginning Merchandise Inventory $ 43,500 Net Cost of Purchases 145,000 Cost of Goods Available for Sale 188,500 Less: Ending Merchandise Inventory 38.000 Cost of Goods Sold: Gross Profit Operating Expenses Net Income 150.500 107,500 87.200 $.20.300 Compute inventory turnover rate for the year. (Round to two decimal places.) Compute days' sales in inventory for the year. (Round to two decimal places.) Paragraph