Question 8 (8 marks) The following select information is taken from Blueberry Pie Corp.'s statements of financial position at December 31, 2019 and 2020, and their income statement for calendar 2020: 2020 2019 Assets: Cash $ 18,000 $ 22,000 Short Term investments 25,000 -0- Accounts receivable. 38,000 42,000 Inventory 61,000 52,000 Prepaid insurance 6,000 9,000 Long-term investments 49,000 20,000 Equipment (net) 130,000 130,000 33,000 33,000 Goodwill 55,000 55,000 Total assets. $ 415,000 $363,000 Net income $ 62,250 Sales (all on credit) 305,000 Cost of goods sold 123,000 Interest expense. 15,600 Income tax expense. 17.450 Tax rate - 28% Land... Instructions From the above information, calculate the following ratios for 2020, rounding to 1 decimal place(2 marks each): Ratio Amount 1. Inventory turnover 2. Accounts receivable turnover 3. Return on assets ratio 4 Gross profit percentage ratio