The table below contains selected financial information from recent financial statements of KBI Toys and Little Tikes Adventure Toys, Inc., two toy manufacturing companies ($ in thousands):
Required:
Calculate the 2018 gross profit ratio, inventory turnover ratio, and the average days in inventory for the two companies (rounded).
Definitions:
Growth Motivation
The drive to expand self-capacity, enhance personal growth, and realize one's potential.
Homeostasis
Homeostasis is the biological process by which living organisms maintain stable internal conditions (such as temperature, pH, and electrolyte balance) despite changes in the external environment.
Pleasure Principle
A concept in psychoanalytic theory referring to the instinctual seeking of pleasure and avoiding of pain to satisfy biological and psychological needs.
Determinism
The philosophical doctrine that all events, including moral choices, are ultimately determined by causes external to the will.
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