The Intramural Sports Club reports sales revenue of $1,022,000. Inventory at both the beginning and end of the year totals $180,000. The inventory turnover ratio for the year is 4.8. What amount of gross profit does the company report in its income statement? THE INTRAMURAL SPORTS CLUB Income Statement (partial) Sales revenue $ 1,022,000 Cost of goods sold Gross profit Universal Sports Supply began the year with an accounts receivable balance of $170,000 and a year-end balance of $190,000. Credit sales of $495,000 generate a gross profit of $165,000. Calculate the receivables turnover ratio for the year. (Round your final answer to 1 decimal place.) Receivables Turnover Ratio Universal Sports Supply times