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Question 1. Ratios (30 points) The following data were taken from the 2022 and 2021...

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Question 1. Ratios (30 points) The following data were taken from the 2022 and 2021 financial statements of Dreams Company. Show your work in order to receive partial credit if your answer is in error. (in millions) 2022 2021 Average Inventory $ $ 560,000 480,000 2,000,000 1,800,000 1,700,000 1,539,000 Net sales Cost of goods sold Net income 50,000 45,000 (a) Calculate the gross profit ratio for each year. (Round answers to 1 decimal places, e.g. 15.3.) 2022 2021 Gross Profit ratio % (b) Calculate inventory turnover for each year. (Round answers to 1 decimal places, e.g. 15.3) 2022 2021 time time Inventory Turnover S S (c) Calculate the days in inventory ratio for each year. (Round answers to 1 decimal place, e.g. 15.3.) 2022 2021 Days in Inventory days days

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