What would the equation look like Murawski CompanyBalance SheetDecember 31Current AssetsInvestmentsBalance SheetCash and cash equivalentsAccounts receivable (net)Current liabilitiesProperty, plant, and equipmentIntangibles and other assetsTotal assetsSales RevenueInventoryPrepaid expensesTotal current assetsMurawski CompanyIncome StatementFor the Years Ended December 31Costs and expensesCost of goods soldSelling and Administrative expensesInterest expenseTotal costs and expensesIncome before income taxesIncome StatementIncome tax expenseNet Income2022$790380Long-term liabilitiesStockholder's equity - common1.0301,040Total liabilities and stockholder's equity $2,340 $2,2100to enlarge.$3304704601201,38010420530$2.3402022$900410$3,8009552,400253,3802021420126$294$3604003901601,31010380510$2,2102021$3,4608902,330203,24022066$154WgCalculate the 2021 Inventory Turnover ratio.Use whole numbers rounded to 2 decimalplaces, if needed, as seen in the examplebelow.1500890÷Example800 =Inventory Turnover Ratio 20211.88Click the check mark to check your answers.Fields with incorrect responses will beremoved so you can try again.A825 AM12/19/2022***

Inventory Turnover Ratio Inventory turnover is a financial ratio showing how…

Murawski Company Balance Sheet December 31 Current Assets Investments Cash and cash equivalents Accounts receivable (net) Inventory Prepaid expenses Total current assets Property, plant, and equipment Intangibles and other assets Total assets Current liabilities Murawski Company Income Statement For the Years Ended December 31 Sales Revenue Costs and expenses Cost of goods sold Selling and Administrative expenses Interest expense Total costs and expenses 2022 2021 Income before income taxes $330 Income Statement Income tax expense Net Income $900 Long-term liabilities 410 Stockholder's equity-common 1.030 1,040 Total liabilities and stockholder's equity $2.340 $2.210 120 1,380 470 460 10 10 420 380 530 510 $2.340 $2.210 2022 $3,800 955 2,400 25 $360 400 390 160 1,310 3,380 420 126 $294 $790 380 2021 $3,460 890 2,330 20 3,240 220 66 $154 Calculate the 2021 Inventory Turnover ratio. Use whole numbers rounded to 2 decimal places, if needed, as seen in the example below. 1500 890 ÷ Example 800 = 1.88 Inventory Turnover Ratio 2021 ÷ Click the check mark to check your answers. Fields with incorrect responses will be removed so you can try again.