1. Consider the Ganges Tours, Inc. financial statements below. Calculate the following ratios: a. Current ratio. b. Quick ratio. c. Cash ratio. d. Total Debt ratio e. Debt-Equity ratio. f. Inventory turnover. (Assume "Costs" are costs of Goods sold.) g. Days' sales in inventory. h. Receivables turnover. i. Days' sales in receivables. j. Total Asset turnover. k. Profit margin. 1. Return on assets. m. Return on equity. n. Earnings per share. (Assume 100,000 shares outstanding.) o. Price-earnings ratio. (Assume market price = $10.) p. Market-to-book ratio. q. Dividend payout ratio. Ganges Tours, Inc. 12/31/2016 Balance Sheet Assets Liabilities and Owners' Equity Current assets Current Liabilities Cash $25,000 Accounts Payable $60,000 Accounts Receivable 50,000 Notes Payable 30,000 Inventory 100,000 Total 90,000 Total 175,000 Long-term Debt 200,000 Fixed assets Owners' equity (OE) Net F/A 500,000 C/S + surplus 200,000 Retained Earnings 185,000 Total OE 385,000 675,000 Total Liab and OE 675,000 Total Assets Ganges Tours, Inc. 2016 Income Statement Sales $1,000,000 Cost of Goods Sold 700,000 Other expenses 50,000 EBIT Interest Expense $250,000 30,000 1 Taxable Income Taxes (35%) $220,000 77,000 Net Income $143,000 Dividends $57,200 Addition to RE $85,800