17. If Nico Corporation has cost of goods sold of P300,000 and inventory of P30,000, then the inventory turnover is and the average age of inventory is a. 36.5; 10 b. 10; 36.5 C. 36.0; 10 d. 10; 36.0 18. If Nico Corporation has annual purchases of P300,000 and accounts payable of P30,000, then average purchases per day are and the average payment period is a. 36.5; 821.9 b. 36.0; 833.3 c. 821.9; 36.5 d. 833.3; 36.0 19. A firm with sales of P1,000,000, net profits after taxes of P30,000, total assets of P1,500,000, and total liabilities of P750,000 has a return on equity of a. 20 percent b. 15 percent c. 3 percent d. 4 percent 20. In the DuPont system, the return on total assets (asset) is equal to a. (return on equity) x (financial leverage multiplier) b. (return on equity) x (total asset turnover) c. (net profit margin) x (fixed asset turnover) d. (net profit margin) x (total asset turnover)