Current Attempt in Progress Selected data for Nancy's Store appear below. 2020 2019 Net sales $823,500 $540,000 Cost of goods sold 625,860 350,000 Inventory at end of year 70,965 85,500 Accounts receivable at end of year 160,000 110,000 (a) Compute gross profit rate for 2020. Gross profit rate (b) Save for Later Compute the inventory turnover for 2020. Inventory turnover (c) Save for Later % times Compute accounts receivable turnover for 2020. (Round answer to 1 decimal place, e.g. 5.1) Accounts receivable turnover times Save for Later Attempts: 0 of 1 used Submit Answer Attempts: 0 of 1 used Submit Answer Attempts: 0 of 1 used Submit Answer Selected comparative statement data for Sheffield Products Company are presented below. All balance sheet data are as of December 31. 2020 2019 Net sales $801,500 $726,000 Cost of goods sold 493,000 447,000 Interest expense 7.400 5,900 Net income 64,120 45,000 Accounts receivable 128,000 110,000 Inventory 95,000 71,000 Total assets 600,000 545,000 Total common stockholders' equity 475,000 310,000 Compute the following ratios for 2020: (Round answers to 1 decimal place, eg. 52.73 (5) Profit margin. (b) Asset turnover. times (c) Return on assets % E (d) Return on common stockholders' equity. 96