What is the inventory turnover? what what type of analysis it, a liquidity, profitability or solvency? what does it tell us?

beginning of inventory was $18,100

1 New York Bakery Balance Sheet B December 2019 4 Assets 5 Current assets Cash $ 50,180.74 Accounts receivable $ 951,766.20 Raw materials 38.467.89 Finished goods inventory 6 18.522.00 10 Total current assets $ 1,058,936.83 11 Deferred tax asset 12 Property. Plant & Equipment Land $ 76,000.00 Building $ 567,000.00 15 Equipment $ 1,010,000.00 Accumulated Depr - Equip $ (141,200.00) 17 Total PPE $ 1,511,800.00 18 Total assets $ 2,570.736.83 LA N UUR Ecovo 20 Liabilities and Stockholders' Equity 21 Current liabilities 45,255.13 Assig $ Exam 5.087.17 9,342.24 $ $ 59,684.54 $ 1,096,262.57 Accounts payable 22 23 Line of credit payable 24 Taxes payable 25 Total current liabilities 26 Long term liabilities 27 Mortgage payable (current) 28 Total long term liabilities 29 Total liabilities 30 Stockholders equity Common stock (no-par, 81 200,000 share outstanding 82 Retained earnings 33 Total stockholders' equity 34 Total liabilities and stockholders equity $ 1.096,262.57 $ 1.156,947.11 6 550.000.00 $ 850, 113.00 $ 1.400.113.00 $ 2,566 060. 11 4 36 G F New York Bakery Income Statement For the Year Ended December 31, 2019 Sales Cost of goods sold Gross margin Selling and administrative expense Earnings before interest and tax Interest expense Tax expense Net income $ 4,173,100.00 2,937,641.56 $ 1,235,458,44 842,584,40 $ 392,874.04 $ 78.113.40 16,500.00 298,260.64 A A A A A 6 69 1. No preferred dividends were declared. 2. Market Price for Common Stock 3. Shares Outstanding 19.75 200,000