U U pts Question Help S17-7 (book/static) Accel's Companies, a home improvement store chain, reported the following summarized figures: Click the icon to view the income statement.) (Click the icon to view the balance sheets.) Accel's has 10,000 common shares outstanding during 2018 Read the requirements Requirement 1. Compute the inventory tumover, days' sales in inventory, and gross profit percentage for Accel's Companies for 2018. Compute the inventory turnover. (Round your answer to two decimal places, X.xx.) The inventory turnover times Choose from any list or enter any number in the input fields and then click Check Answer. 4 parts remaining Clear All Check Answer ny Que i Income Statement x improvem ne income shares ou Accel's Companies Income Statement Years Ended May 31, 2018 and 2017 2018 the inventor 2018 2017 mover. (Roul 40,600 $ Net Sales Revenue Cost of Goods Sold Interest Expense 40,500 30,600 570 28,400 600 4,300 7,300 $ All Other Expenses 8,200 Net Income 1,130 or enter any ny Print Done Check Answer - Balance Sheets s Con Click s has 2018 2017 2018 2017 the Cash $ 2.400 $ 13,200 10,300 ireme Short-term investments 28,000 23,500 utet Accounts Receivable Merchandise Inventory Other Current Assets 7,500 6.900 8,000 900 Total Current Liabilities 28,000 $ 9,000 Long-term Liabilities 13.900 5,200 Total Liabilities 41,900 8,600 Stockholders' Equity 11,000 25,200 Retained Earnings 29,900 40,900 invento EO 1,500 Common Stock 11,000 19,700 Total Current Assets All Other Assets 52,800 30,000 29,000 Total Equity 30,700 82,800 $ 54,200 $ 82,800 $ 54,200 Total Assets Total Liabilities and Equity ose froid Print Done n shares o 0 Requirements 18. the invent arnover. (Rol 1. Compute the inventory turnover, days' sales in inventory, and gross profit percentage for Accel's Companies for 2018. 2. Compute days' sales in receivables during 2018. Round intermediate calculations to three decimal places. Assume all sales were on account 3. What do these ratios say about Accel's Companies' ability to sell inventory and collect receivables? Print Done