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What is the firm's inventory turnover ratio? Exhibit for questions # 40-50 The balance sheet and income statement shown below are for Koski Inc. Note that the firm has no amortization charges, it does not lease any assets, none of its debt must be retired during the next 5 years, and the notes payable will be rolled over. 2015 Balance Sheet (Millions of $) Assets Cash and securities Accounts receivable Inventories $ 2,500 11,500 16,000 Total current assets Net plant and equipment $30,000 $20.000 $50,000 Total assets Liabilities and Equity Accounts payable Accruals Notes payable Total current liabilities $ 9,500 5,500 _7,000 $22,000 Long-term bonds Total liabilities Common stock Retained earings Total common equity Total liabilities and equity $15,000 $37,000 S 2,000 11.000 $13,000 S50,000 Income Statement (Millions of S) Net sales Operating costs except depreciation Depreciation Earnings before interest and taxes (EBIT) Less interest Earnings before taxes (EBT) Taxes 2015 $87,500 81,813 1.531 S 4.156 1375 S 2,781 973 Net income $ 1,808 Other data Shares outstanding (millions) Common dividends Intrate on notes payable < bonds Federal plus state income tax rate Year-end stock price 500.00 $632.73 6.25% 35% S43.39 a. 5.47 6.574 06.03 0.633 e. 6.65

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