15. The condensed, audited financial statements for the June 30, 2003, fiscal year for McNeil Corporation are as follows: BALANCE SHEET, JUNE 30, 2003 ($000) $16,400 25,590 36,930 16,110 95,030 48,580 $143,610 Assets Cash Accounts receivable, net Inventory, net Other current assets Total current assets Fixed assets, net Total assets Liabilities and Owners' Equity Accounts payable Bank loan payable (8% interest rate) Other current liabilities Total current liabilities Long-term debt (10% interest rate) Capital stock Retained earnings Total liabilities & owners' equity $21,370 15,000 21,690 58,060 20.000 12,000 53,550 $143,610 INCOME STATEMENT, YEAR ENDED JUNE 30, 2003 ($000) Sales $163,700 Cost of goods sold 96,610 Gross margin 67,090 Operating expenses 38,220 Operating profit 28,870 less: Interest expense 3,810 Profit before taxes 25,060 less: Income taxes 9,770 Net income $ 15,290 Calculate the following ratios for McNeil Corporation: a. Times interest earned b. A/R collection period, year-end c. Inventory flow period, year-end d. Current ratio e. Acid-test ratio f. ROA, year-end g. ROS h. ROE, year-end i. Long-term debt to total capitalization j. Total-asset turnover, year-end k. Effective income tax rate VELLA