Problem 4 (20 points) Given below are comparative Balance Sheets and Income Statement for Blaster Corporation: Blaster Corporation Income Statement for year ended 31 December 2017 Blaster Corporation Balance Sheets - Year 2017 Dec. 31 Jan. 1 Cash $ 42,500 $ 32,800 Accounts receivable 282,000 234,000 Inventory 196,000 182,000 Sales $1,060,000 Cost of goods sold (698,000) Gross profit $362,000 Equipment (net) 206,000 192,000 Operating expenses (247,000) $726.500 $640,800 Operating income $ 115,000 Accounts payable $164,000 $154,000 and Interest expense income taxes (45,000) Dividends payable Net income $ 70.000 22,000 80,000 16,000 80,000 Capital stock, $8 par Retained earnings 460,500 390,800 $726.500 $640.800 Compute the following. Show workings. (a) Inventory Turnover (b) Days to Sell Inventory (c) Receivables Turnover (d) Days to Collect Receivables (e) Operating Cycle _times (4 points) days (4 points) times (4 points) days (4 points) _days (4 points)