Aegis Industries Inc., is the biggest snowmobile manufacturer in the world. It reported the following amounts in its financial statements (in millions): 2012 2013 2014 2015 Net Sales Revenue $ 5,000 $ 4,460 $ 3,790 $ 3,370 Cost of Goods Sold 4,430 3,940 3,420 2,970 Average Inventory 500 450 390 380 Required: 1-a. Calculate the inventory turnover ratio for 2015, 2014, and 2013. 1-b. Calculate the average days to sell inventory for 2015, 2014, and 2013. 2. Is Aegis performing better than its competitor Snow Pack Corporation where the inventory turned over is 7.2 times in 2015 (50.7 days to sell). Both companies use the same inventory costing method (FIFO).

On june 1, 2017, blossom company was started with an initial investment in the company of $22,360 cash. here are the assets, liabilities, and common stock of the company at june 30, 2017, and the revenues and expenses for the month of june, its first month of operations: cash $4,960 notes payable $12,720 accounts receivable 4,340 accounts payable 840 service revenue 7,860 supplies expense 1,100 supplies 2,300 maintenance and repairs expense 700 advertising expense 400 utilities expense 200 equipment 26,360 salaries and wages expense 1,760 common stock 22,360 in june, the company issued no additional stock but paid dividends of $1,660. prepare an income statement for the month of june.