You are a financial analyst at BlueSky Industries, a manufacturing company that produces electronic components. The company has provided you with the following information for the year ended December 31, 2023:

1. BlueSky Industries had total sales revenue of $10,000,000.
2. Cost of goods sold amounted to $6,000,000.
3. Selling and administrative expenses totaled $1,500,000.
4. Depreciation expense for the year was $400,000.
5. The company's income tax rate is 30%.
6. BlueSky Industries began the year with $2,000,000 in inventory and ended the year with $1,500,000 in inventory.

Requirements:

1. Calculate the gross profit for BlueSky Industries for the year ended December 31, 2023.
2. Determine the operating income of BlueSky Industries.
3. Calculate the net income of BlueSky Industries for the year ended December 31, 2023.
4. Compute the company's gross profit margin for the year.
5. Compute the company's operating profit margin for the year.
6. Compute the company's net profit margin for the year.
7. Calculate the inventory turnover ratio for BlueSky Industries.
8. Determine the average days to sell inventory for BlueSky Industries.