Seacrest Corporation sells sailboats and has an inventory turnover ratio of

$4\mathrm{.}97$ times per year based on its most recent audited annual financial

statements. Assume a $365$ day year.

During the year Seacrest sold $3$ boats at an average selling price of $$89950.$

Seacrest applies a $20\%$ mark up on cost and is enough to pay its annual

operating expenses of $$44,000.$

Required $1$: How much is the Average Inventory for the year? $

Required $2$: On average how many days does it take Seacrest to completely

sell its inventory of boats? Determine the average days of outstanding

inventory.

Required $3$: Seacrest's Gross profit percentage is $($report it as multiplied by

$100$ to represent it as a percentage$)$:

Required $4$: If total average assets are $$300,000,$ What is the Return on

Assets? $($report it as multiplied by $100$ to represent it as a percentage$)$:

Required $5$: Seacrest's Return on Sales is $($report it as multiplied by $100$ to

represent it as a percentage$)$: