Real World Financials The table below contains selected information from recent financial statements of Green and White, two companies in the home improvement retail industry (S in millions): Net sales Coat of goods sold Year-end inventory Green 1/28/2018 1/29/2017 $ 101, 104 $94.795 66,748 62,482 12,948 12,749 White 2/2/2018 2/3/2017 $ 68,819 $ 65,217 45,410 42,753 11,593 10,658 Required: Calculate the gross profit ratio, the inventory turnover ratio, and the average days in inventory for the two companies for their fiscal years ending in 2018. (Use 365 days a year. Round "Inventory turnover ratio" to 2 decimal places. Enter dollar amounts in millions rounded to the nearest whole number.) = Choose Numerator: Gross profit 34,3561 23,406 X Gross Profit Ratio Choose Denominator: Net sales 101,104 68,819 Gross Profit Ratio Gross profit ratio 33.98 34.01 Green White = = % % = Inventory Turnover Ratio Choose Numerator: Choose Denominator Cost of goods sold 1 Average inventory 66,7481 12,849 45,4101 11,128 Inventory Turnover Ratio Inventory turnover ratio 5.19 4.08 Green White = = times times = Choose Numerator: Total number of days 365 365 Average Days in Inventory Choose Denominator: Inventory turnover ratio 5.19 X 4.08 Inventory Average days in inventory 70 89 Green White = = days days *Red text indicates no response was expected in a cell or a formula-based calculation is incorrect; no points deducted.