The Colvin 2021 income statement and balance sheet follows. (Click the icon to view the assets section of the balance sheet.) (Click the icon to view the liabilities and stockholders' equity sections of the balance sheet.) (Click the icon to view the income statement.) Read the requirements. Now, select the formula and then enter the amounts to calculate days inventory outstanding (DIO). (Enter any ratios used to calculate the DIO to two decimal places, X.XX, and use a 365-day year. Round the DIO to one decimal place, XXX days.) b. Use the income statement and the balance sheet to calculate the days' sales in average receivables (days' sales outstanding) during 2021 (round dollar amounts to one decimal place). Assume all sales are made on account. Select the formula and then enter the amounts to calculate days' sales in outstanding (DSO). (Abbreviation used: AR = Accounts receivable. Enter any ratios used to calculate DSO to two decimal places, X. XX, and use a 365 -day year. Round the DSO to one decimal place, X.X days.) Balance Sheets (Adapted) December 31, 2021 and 2020 Increase (Decrease) (Dollar amounts in millions) 2021 2020 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 \begin{tabular}{rrrrr} $1,280 & $ & 920$ & 360 & 39.1% \\ & 10 & 76 & (66) & (86.8) \\ 190 & 260 & (70) & (26.9) \\ 226 & 70 & 156 & 222.9 \\ 274 & 340 & (66) & (19.4) \\ \cline { 3 - 4 } & 1,980 & 1,666 & 314 & 18.8 \\ \cline { 3 - 4 } & 6,088 & 3,340 & 2,748 & 82.3 \\ & 1,018 & 878 & 140 & 15.9 \\ & 810 & 720 & 90 & 12.5 \\ \hline$ & 9,896 \\ \hline \end{tabular} Print Done Current liabilities: Print Done Data table Colvin Corporation Statements of Income (Adapted) Year Ended December 31, 2021 and 2020 (Dollar amounts in millions) Net revenues Gross profit General and administrative expenses Income from operations Interest expense, net Income before income taxes Provision for income taxes Net income \begin{tabular}{rrr} \multicolumn{1}{c}{2021} & \multicolumn{2}{c}{2020} \\ \hline$ & 9,900 & $,050 \\ 3,700 & 4,700 \\ \hline & 6,200 & 4,350 \\ & 3,100 & 3,100 \\ \cline { 3 - 3 } & 3,100 & 1,250 \\ & 620 & 140 \\ \hline & 2,480 & 1,110 \\ & 995 & 260 \\ \hline$ & 1,485 \\ \hline \end{tabular} Print Done