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Average Cost 118.68 sHoW sOLUTION (e) Ratio Analysis Zipper Corporation reported the following condensed income statement for 2015 Sales Cost of goods sold Gross profit Less expenses Net income before taxes $300,000 Less income taxes Net income after taxes $6,00000 4,200,000 $1,800,000 -1,500,000 120,000 $180,000 Assume the following Average inventory Average accounts receivable $1/2000 Average accounts payable$300,000 $700,000 (Use 365 days a year) Compute the following: (Round answers to 2 decimal places, e.g. 52.75.) nventory turnover 6 times times days days days Accounts receivable turnover verage number of days to sell an item Average number of days to collect an account receivable Number of days in operating cycle (f) Prepare Bank Reconciliation The parts of this question must be completed in order. This part will be available when you ce