Smithson Electrical Fixtures Reported the Following Income Statement for the Year

Smithson Electrical Fixtures reported the following income statement for the year ended December 31, 2019.
$\begin{array}{c} \text { Smithson Electrical Fixtures}\\ \text { Income Statement}\\ \text { Year Fnded December 31. 2019}\\\begin{array}{|l|c|c|}\hline \text { Sales Revenue } & & \$ 258,000 \\\hline \text { Cost of Goods Sold } & & \\\hline \text { Beginning Merchandise Inventory } & \$ 43,500 & \\\hline \text { Net Cost of Purchases } & \underline{145,000} & \\\hline \text { Cost of Goods Available for Sale } & 188,500 & \\\hline \text { Less: Ending Merchandise Inventory } & 38,000 & \\\hline \text { Cost of Goods Sold: } & & 150,500 \\\hline \text { Gross Profit } & & 107,500 \\\hline \text { Operating Expenses } & & 87,200 \\\hline \text { Net Income } & & \$ 20,300 \\\hline\end{array}\end{array}$
Compute inventory turnover rate for the year. (Round to two decimal places.)
Compute days' sales in inventory for the year. (Round to two decimal places.)