16. The following are the income statement for 2016 and a December 31, 2016 balance short for Bush Limited. Sales (nct) Cost of goods sold Income Statement $304,400 183.000 Gross profit 5130,500 Operating expenses 82,000 Interest expense 7.000 Income before income taxes $31,800 Income taxes 10,000 Net Income $21.90 Balance Sheet Cash Receivables (ne) Lavatory Property, plant, and equipment (net) $8.200 Accounts payable 14,700 Other current liabilities 19.300 Notes payable, 10% 1958) Common stock, $10 par $ 18.000 6,800 70,000 80,500 Total Assets Required: Additional paid-in capital Retained earnings: Total Liabilities $218.000 Stockholders Equity 24,000 38.200 and $238.000 (4) Assume all the sales made are credit sales. The ending balance of accounts receivable and inventory are the same as its beginning balance. Calculate all risk ratios for Bush Limited. (8 marks) (b)Given the industry average figure below, evaluate the risk management of Bush Limited. (2 marks) 15 times 24.33 days Stalles 45.63 days Receivables turnover ratio Average collection period Inventory turnover o Average days in inventory Current ratio 1.60 to 1 Acid-sest ratio 0.80 1 Debt to equity ratio Times interest earned ratio 680 times 50%