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Use the following information to answer the questions on page 2 below Note: all sales are credit sales Income Stmt info: 2017 2018 less Cost of Goods Sold: Gross Profit Operating Expenses Earnings before Interest & Taxes Interest exp earnings before Taxes Taxes Net Income Sales 1,000,000 $1,100,000 424,000 676,000 365,750 310,250 25,500 284,750 113,900 170,850 400,000 600,000 350,000 250,000 25,000 225,000 90,000 135,000 $ 12/31/ Balance Sheet info: Cash Accounts Receivable Inventory Total Current Assets Fixed Assets (Net) Total Assets 2017 12/31/2018 30,000 51,000 125,000 131.250 212,250 300,000 315,000 S500,000 S 52Z250 25,000 $ 50,000 $ 200,000 $ Current Liabilities Long Term Liabilities Total Liabilities Stockholders Equity Total Liab & Equity 110,000 $ 180,000 290,000 $ 210,000 121,000 188,000 309,000 218,250Compute each of the following ratios for 2017 and 2018 and indicate whether each ratio was getting better or worse from 2017 to 2018 and was good or bad compared to the Industry Avg in 2018 (round all numbers to 2 digits past the decimal place) Getting Better or Getting Worse? Good or Bad 2018 Industry compared to 2017 2018 Avg Industry Avg Profit Margin Current Ratio Quick Ratio Return on Assets Debt to Assets Receivables turnover Avg. collection period* Inventory Turnover** Return on Equity Times Interest Earned 0.11 1.90 0.66 28 .50 18.00 15.50 9.25 0.55 11.15 Assume a 360 day year **Inventory Turnover can be computed 2 different ways. Use the formula listed in the text

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