7. Selected recent balance sheet and income statement information for Sullivan & Sons Corporation follows: 2018 2017 in millions Average inventory Average accounts receivable Average accounts payable Sales Cost of goods sold175,048 21,012 23,868 57,681 52,755 29,726 26,704 229,104 236,728 179,398 Calculate inventory turnover for 2017 A) 5.00 B) 5.60 C) 6.80 D) 7.52 E) 8.33 8. The following is selected balance sheet and income statement information for Lopez Company Current Gross Profit Net Net Average Average Commen E) 8.33 The following is selected balance sheet and income statement information for Lopez Company. 8. AverageAverage Common Current Gross Profit Net Assets on Sales Sales Income Total Assets Stockholders' Equity Net $151,668 2018 $48,062 $269,680$877,000 $45,216 $273,710 Compute Gross profit percentage. A) 30.75% B) 40.59% C) 450090 D) 54.00% E) 67.59%