Succeed's Companies, a home improvement store chain, reported the following summarized figures: (Click the icon to view the income statement.) (Click the icon to view the balance sheets.) Succeed's has 20,000 common shares outstanding during 2024. Read the requirements. Requirement 1. Compute the inventory turnover, days' sales in inventory, and gross profit percentage for Succeed's Companies for 2024. Compute the inventory turnover. (Round your answer to two decimal places, X.XX.) The inventory turnover = Income Statement Succeed's Companies Income Statement Years Ended May 31, 2024 and 2023 2024 2023 Net Sales Revenue Cost of Goods Sold 57,200 $ 23,300 41,600 24,900 Interest Expense 500 280 6,200 6,500 All Other Expenses $ 27,200 $ 9,920 Net Income - times. Requirements 1. Compute the inventory turnover, days' sales in inventory, and gross profit percentage for Succeed's Companies for 2024. 2. Compute days' sales in receivables during 2024. Round intermediate calculations to three decimal places. Assume all sales were on account. 3. What do these ratios say about Succeed's Companies' ability to sell inventory and collect receivables? Print Done - X