Reference no: EM132624123

The following financial information is for Alpha Corporation are for the fiscal years ending 2017 & 2016 (all balances are normal):

Item/Account                             2017                          2016

Accounts Receivable                 $9,800                    $9,400

Inventory                               30,000                      16,000

Net Sales (all credit)                   85,000                   71,000

Cost of Goods Sold                      62,000                  52,000

Net Income                                7,200                   6,900

Problem a: Use this information to determine for FY 2017: (Round & enter your answers to one decimal place and enter the value.)

1. the inventory turnover ratio

2. number of days of inventory

3. Gross Profit Margin

4. Profit Margin