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The Metro 2021 income statement and balance sheet follows. (Click the icon to view the assets section of the balance sheet.) (Click the icon to
The Metro 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. a. Use the income statement and the balance sheet to calculate Metro's rate of inventory tumover and days' inventory outstanding for 2021. Begin by selecting the formula and then enter the amounts to calculate inventory turnover. (Enter currency amounts in millions as given in the question. Round the inventory turnover to two decimal places, X,XX.) Data table Metro Corportion Balance Sheets (Adapted) December 31, 2021 and 2020 \begin{tabular}{|c|c|c|c|c|c|} \hline \multirow[b]{2}{*}{ (Dollar amounts in millions) } & & \multirow[b]{2}{*}{2021} & \multirow[b]{2}{*}{2020} & \multicolumn{2}{|c|}{ Increase (Decrease) } \\ \hline & & & & Amount & Percentage \\ \hline \multicolumn{6}{|l|}{ Assets } \\ \hline \multicolumn{6}{|l|}{ Current assets: } \\ \hline Cash and cash equivalents & $ & 1,210$ & 980 & 230 & 23.5% \\ \hline Short-term investments & & 14 & 48 & (34) & (70.8) \\ \hline Receivables, net & & 230 & 268 & (38) & (14.2) \\ \hline Inventories & & 102 & 70 & 32 & 45.7 \\ \hline Prepaid expenses and other assets & & 292 & 302 & (10) & (3.3) \\ \hline Total current assets & & 1,848 & 1,668 & 180 & 10.8 \\ \hline Property, plant, and equipment, net & & 3,660 & 3,386 & 274 & 8.1 \\ \hline Intangible assets & & 1,020 & 848 & 172 & 20.3 \\ \hline Other assets & & 826 & 730 & 96 & 13.2 \\ \hline Total assets & $ & 7,354$ & 6,632 & 722 & 10.9% \\ \hline \end{tabular} Data table Data table Metro Corporation Statements of Income (Adapted) Year Ended December 31, 2021 and 2020
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