Universal Sports Supply began the year with an inventory balance of $71,000 and a year-end balance of $69.000. Sales of $735,000 generate a gross profit of $245,000. Calculate the inventory turnover ratio for the year. (Round your final answer to 1 decimal place.) Inventory Turnover Ratio Universal Sports Supply times Perform a vertical analysis on the following information, (Round your answers to 1 decimal place.) 2020 2021 Amount % Amount % Cash $ $ 947,600 369,600 593,600 Accounts receivable Inventory Long-term assets Total assets 929,600 3,707,200 5,600,000 257,600 832,600 2,562,200 4,600,000 $ $