Please explain the solution to the attachment.

Elephant, inc.'s cost of goods sold for the year is $2,000,000, and the average merchandise inventory for the year is $129,000. calculate the inventory turnover ratio of the company. (round your answer to two decimal places.)

What are the forecasted levels of the line of credit and special dividends? (hints: create a column showing the ratios for the current year; then create a new column showing the ratios used in the forecast. also, create a preliminary forecast that doesn’t include any new line of credit or special dividends. identify the financing deficit or surplus in this preliminary forecast and then add a new column that shows the final forecast that includes any new line of credit or special dividend.) now assume that the growth in sales is only 3%. what are the forecasted levels of the line of credit and special dividends?

Double corporation acquired all of the common stock of simple company for