1- Emery Corporation is a machinery manufacturing company located in Morganton, NC, USA. The company's management wanted to measure their performance compared to the Industry (Table 2). Using the latest Financial statements, which is given on Page 2 (Table 1) calculate the following performance measures: a) Current Ratio b) Quick Ratio c) Average Collection Period d) Operating Return on Assets e) Total Asset Turnover f) Inventory turnover g) Debt Ratio h) ROE i) Price Earnings Ratio Table 1: Financial Statements Emery Corporation Financial Statements For the year ended December 31, 2019 Income Statement Balance Sheet Assets Cash Accounts receivable Inventory Net fixed assets Total assets $370.000 Sales (all credit) $8,120,000 570,000 cost of goods sold 4,000,000 620,000 Operating expense 2.900.000 1 2.220,000 Interest expense (150,000) $3.780,000/income taxes (380,000) INet income $690.000 Liabilities and owners' equity Accounts payable Long-term Notes payable $220,000 || 570,000 Long-term debt 1.170,000 || Owners' Equity Total liabilities and owner's equity 1.820,000 $3,780,000 Earnings Per Shard 2.40 Market price per share = 33 Table 2: Industry Average Industry Average 7.49 5.25 31.87 Days Ratio Current Ratio Quick Ratio Average Collection Period Operating Return on Assets Total Asset Turnover Inventory turnover Debt Ratio ROE Price Earnings Ratio 3.15 X 7.45X (50 Days) SOP 419 14.09 X 2- Interpret the results (refer to Table 2)