Trust Corporation reparted these tgures (Click the icon to view the balance sheet.) ick the icon to view the income statement ) Trust Corporation has 3,000,000 shares of common stock outstanding. Its stock has traded recently at S27.20 pB' share. You Read the ranuiremen. Income statement Trust Corporation Income Statement For the Year Ended December 31, 2017 (amounts in thousands) Balance Sheets December 31, 2017 and 2016 (amounts in thousands) a. Inventory turnower Enter the formula on the first line, then calculate the inventory turnover on the next line. (Enter amounts in thousands es provided 2017 2016 Inventory tumaver 2017 Assets Current assets Cash Accounts receivables Invenlory other current assets Sales revenue Less. Cost of goods sok Gross prott Less: Operating expenses Operating income Less: Interest expense Income before income taxes Less: Income tax expense Nct incomc S 16,060 5,780 10 280 2,6i30 $7,650 S 2,730 S 2,400 2,000 1,500 Trust limes per year. To delermine if is seeIs reasonable, a comparison with 2,100 would be necessary to reach a better conclusion 1,900 b. Days' sales in receivebles Enter the formula on the first line, then cakculate the days' sales in average receivables on the next line. (Enter amounts in t $ 7,830 S 8,050 19,000 S 29,330 S 27,050 Total current assets -Days' sales in average receivables 21,500 Other assets $7,350 4,800 $2,550 days Total assets It takes Trust recervables that most companies expect, this iS callecting trom customers A possible salution maght be days to Dased on a typical 30 days sales in average Ihis Liabilities Print Done