Use the below annual financial data to answer the following questions.

When it says to go to $3$ decimal places for your answer, it means your final answer should go to $3$ places after the decimal based on the fourth place after the decimal $($so $127\mathrm{.}8374$ would be rounded as $127\mathrm{.}837,$ and $127\mathrm{.}8375$ would be rounded as $127\mathrm{.}838).$

I encourage you to use Excel and to not round your intermediate steps $($see the homework notes on Moodle$).$

Gross income $ $37,291,000$

Total sales $35,937,000$

Total credit sales $23,796,000$

Net income $4,395,000$

Cost of goods sold $18,617,000$

Total assets $12,361,000$

Average inventory $4,585,000$

Average receivables $4,037,000$