please show formulas and work . please put in excel format

E7-14 (Algo) Analyzing and Interpreting the Inventory Turnover Ratio L07-5 Jetz is the leading manufacturer of personal computers. In a recent year, it reported the following in dollars in millions: Net sales revenue Cost of sales Beginning inventory Ending inventory $ 76,251 58,944 1,820 1,770 Required: Determine the inventory turnover ratio and average days to sell inventory for the current year. (Use 365 days a year. Round your intermediate calculations and final answers to 2 decimal places.) Inventory turnover Average days to sell inventory days E7-19 (Algo) Analyzing and Interpreting the Impact of an Inventory Error LO7-7 Grants Corporation prepared the following two income statements (simplified for illustrative purposes): First Quarter $ 12, 200 Second Quarter $19,900 Sales revenue Cost of goods sold Beginning inventory Purchases Goods available for sale Ending inventory Cost of goods sold Gross profit Expenses Pretax income $ 3,800 3,300 7,100 3,700 $ 3,700 12,902 16,600 9,000 3,400 8,800 7,600 12,300 4,000 5,500 $ 4,800 $ 6,800 During the third quarter, it was discovered that the ending inventory for the first quarter should have been $4,220. Required: 1. What effect did this error have on the combined pretax income of the two quarters? 2. Which quarter's or quarters' (if any) EPS amounts were affected by this error? 3. Prepare corrected income statements for each quarter. 4. Prepare the schedule to reflect the comparative effects of the correct and incorrect amounts on the income statement. Complete this question by entering your answers in the tabs below. Req 1 and 2 Reg 3 Reg 4 1. What effect did this error have on the combined pretax income of the two quarters? 2. Which quarter's or quarters' (if any) EPS amounts were affected by this error? 1. Effect on combined pretax income 2. Quarter(s)