s17-7 please show your work

Score: 0 of 1 pt 4 of 10 (0 complete) HW Score: 0% , 0 of S17-7 (similar to Quesion Hel High's Companies, a home improvement store chain, reported the following summarized figures: EEB (Click the icon to view the income statement.) E(Click the icon to view the balance sheets.) High's has 80,000 common shares outstanding during 2018. Read the requirements. Requirement 1. Compute the inventory turnover, days' sales in inventory, and gross profit percentage for High's Companies for 2018. Compute the inventory turnover. (Round your answer to two decimal places, XXX) times The inventory turnover Requirements 1. Compute the inventory turnover, days' sales in inventory, and gross profit percentage for High's Companies for 2018. 2. Compute days' sales in receivables during 2018. Round intermediate calculations to three decimal places. Assume all sales were on account. 3. What do these ratios say about High's Companies' ability to sell inventory and collect receivables? Done Print - X Income Statement High's Companies Income Statement Years Ended May 31, 2018 and 2017 2017 2018 43,800 49.200 $ Net Sales Revenue ry 28,600 27.700 Cost of Goods Sold 140 200 Interest Expense in de 8,400 6,900 All Other Expenses sa 6,660 14,400 $ Net Income Done Print CK tThe Balance Sheels High's Companies Balance Sheet May 31, 2018 and 2017 Liabilities Assets 2017 2018 2018 2017 12,800 S 27,000 $ 1,900 Total Current Liabilities 2,300 $ Cash 11,400 13,500 11.000 Long-term Liabilities 29.000 Short-term Investments 24,200 40,500 5,400 Total Liabilities 7,300 Accounts Receivable Stockholders' Equity 6,300 7,200 Merchandise Inventory 2,400 11,000 6,000 11,000 Common Stock Other Current Assets 14,800 33,300 27.000 Retained Earnings 23,000 Total Equity 51,800 Total Current Assets 25,800 44,300 33,000 All Other Assets 50,000 84,800 $ $ 50,000 Total Liabilities and Equity 84,800 $ Total Assets Done Print