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Selected data from the financial statements of Italian Marble Co. and Brazil Stone Products for the year just ended follow. Assume that for both companies dividends declared were equal in amount to net earnings during the year and therefore stockholders' equity did not change. The two companies are in the same line of business. Italian Marble Brasil Stone Co. Total abilities Products Total assets 200,000 $ 100,000 Sales (all on credit) 800,000 400,000 1,820,000 Average inventory 1,290,000 240,000 Average receivables 140,000 200,000 Gross profit as a percentage of sales 100,000 401 300 Operating expenses as a percentage of sales Net Income as a percentage of sales 368 254 31 55 a. Compute the net income for each company b. Compute the net income as a percentage of stockholders' equity for each company, c. Compute the accounts receivable turnover for each company. d. Compute the inventory turnover for each company e. Which company is in a stronger financial position? Complete this question by entering your answers in the tabs below. Required A Required B Required Required D Required E Compute the net income for each company Required A Required B Required C Required D Required E Compute the net income for each company. Italian Brazil Stone Marble Co. Products $ 55,800 $ 50,500 Net income Required A Required B Required Required D Required E Compute the accounts receivable turnover for each company. (Round your answers to the nearest whole number.) Italian Marble Brazil Stone Products Accounts receivable turnover times 10 times Co. 9 Required A Required B Required Required D Required E Compute the inventory turnover for each company. (Round your answers to 1 decimal place.) Italian Marble Co. 4.7 times Brazil Stone Products 5.1 times Inventory turnover