The Bok,er 2021 income statement and balance sheot follows (Cick the icon to vew the assets section of the balance sheet.) (Cick the icon to view the labilites and stockholders' equily sections of the balance sheet) (Crick the icon to view the income statement) Read the ceavitementa a. Use the income statement and the balance sheet to calculate Baker's rate of inventory tumover and days' inventory outstanding for 2021 Bogin by salecting the formula and then enter the amounts to calculate imventory turnover. (Enter currency amounts in milions as piven in the questian. Round the inventory timaver to two decimal places, xx) Now, select the formula and then enter the amounts to calculate days inventory outstanding (DiO) (Enser any ratios used to calculate the DiO to two decimal places, X XXX, and use a 365-day ye: Round the Dio to one decimal place, X dayk.) 6. Use the income statement and the balance sheet to calculate the doys' sales in average receivables (days' sales outstanding) during 2021 (round dollar amounts to one decimal place). Assim sales are made on account. Select the formuls and ehen enter the amounts to calculate days' sales in outstanding (DSO). (Aborevation used: AR = Accounts roceivable, Enter any hatos used lo calculate DSO to two deomel places, XC, and use a 365 -diry year, Round the DSO to one decimal place, X days.) 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 Baker Corporation Balance Sheet (Adnated) Baker Corporation Statements of Income (Adapted) Year Ended December 31, 2021 and 2020 \begin{tabular}{lrrr} \hline (Dollar amounts in millions) & 2021 & 2020 \\ \hline Net revenues & $ & 9,120 & $9,400 \\ Cost of goods sold & 5,220 & 5,000 \\ Gross profit & 3,900 & 4,400 \\ General and administrative expenses & 1,600 & 3,200 \\ Income from operations & 2,300 & 1,200 \\ Interest expense, net & 230 & 180 \\ Income before income taxes & 2,070 & 1,020 \\ Provision for income taxes & 1,272 & 230 \\ Net income & $ & 798 \\ \hline \hline \end{tabular} The Bok,er 2021 income statement and balance sheot follows (Cick the icon to vew the assets section of the balance sheet.) (Cick the icon to view the labilites and stockholders' equily sections of the balance sheet) (Crick the icon to view the income statement) Read the ceavitementa a. Use the income statement and the balance sheet to calculate Baker's rate of inventory tumover and days' inventory outstanding for 2021 Bogin by salecting the formula and then enter the amounts to calculate imventory turnover. (Enter currency amounts in milions as piven in the questian. Round the inventory timaver to two decimal places, xx) Now, select the formula and then enter the amounts to calculate days inventory outstanding (DiO) (Enser any ratios used to calculate the DiO to two decimal places, X XXX, and use a 365-day ye: Round the Dio to one decimal place, X dayk.) 6. Use the income statement and the balance sheet to calculate the doys' sales in average receivables (days' sales outstanding) during 2021 (round dollar amounts to one decimal place). Assim sales are made on account. Select the formuls and ehen enter the amounts to calculate days' sales in outstanding (DSO). (Aborevation used: AR = Accounts roceivable, Enter any hatos used lo calculate DSO to two deomel places, XC, and use a 365 -diry year, Round the DSO to one decimal place, X days.) 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 Baker Corporation Balance Sheet (Adnated) Baker Corporation Statements of Income (Adapted) Year Ended December 31, 2021 and 2020 \begin{tabular}{lrrr} \hline (Dollar amounts in millions) & 2021 & 2020 \\ \hline Net revenues & $ & 9,120 & $9,400 \\ Cost of goods sold & 5,220 & 5,000 \\ Gross profit & 3,900 & 4,400 \\ General and administrative expenses & 1,600 & 3,200 \\ Income from operations & 2,300 & 1,200 \\ Interest expense, net & 230 & 180 \\ Income before income taxes & 2,070 & 1,020 \\ Provision for income taxes & 1,272 & 230 \\ Net income & $ & 798 \\ \hline \hline \end{tabular}