Bharrat Corporation purchased 43% of Ferris Corporation for $103,000 on January 1. On October 17 of the same year, Ferris Corporation declared total cash dividends of $15,000. At year-end, Ferris Corporation reported net income of $63,000. The balance in the Bharrat's Equity Method Investments—Ferris account at December 31 should be:

Margaret company reported the following information for the current year: net sales $3,000,000 purchases $1,957,000 beginning inventory $245,000 ending inventory $115,000 cost of goods sold 65% of sales industry averages available are: inventory turnover 5.29 gross profit percentage 28% how do the inventory turnover and gross profit percentage for margaret company compare to the industry averages for the same ratios? (round inventory turnover to two decimal places. round gross profit percentage to the nearest percent.)