The Baker 2021 income statement and balence sheet follows (Click the icon to view the assets section of the balance sheet) (Cick the icon to view the liabiltes and stockholders' equity sections of the balance sheet.) (Cick the ioon to view the income statement) Read the reguinements a. Use the income statement and the balance sheet to calculate Baker's rate of inventory tumover and days' inventory outstanding for 2021. Begin by solecting the formula and then enter the amounts to calculate inventory tumover. (Enter currency arnounts in milices as given in the question. Round the irventory tumerer to two decimal places, xx) Requirements Use the income statement and the balance sheet to calculate the following a. Aaker's rate of imentory turnover and days' inventory outstanking for 2021. b. Days' sales in werage receivables (days' sales outstanding) during 2021 (round dollar amounts to one decind place) Assume all sales are mode on accoun c. Accounts payable turnover and days' payobles outstanding for 2021. For this purpose, assume that the impsct of inventories on cost of goods sold is inmaterial allowing you to use cost of poods sold rather than purchases in your cemputations d. Length of cash corvenice cycle in days for 2021 Do these measures look trong or weak? Give the reason lor your answer Baker Corportion Balance Sheets (Adapted) December 31,2021 and 2020 Increase (Decrease) (Dollar amounts in millions) 20212020 Amount Percentage Assets Current assets: Cash and cash equivalents Short-term investments Receivables, net Inventories Prepaid expenses and other assets Total current assets Property, plant, and equipment, net Intangible assets Other assets Total assets Data table