2-12 Last year, Delightful Desserts had a quick ratio of 1.8, a current ratio of 5.0, an inventory turnover of 7.0, total current assets of $340,000, and cash and equivalents of $43,000. If the cost of goods sold equaled 80 percent of sales, what were Bailey's annual sales and DSO? 2-18. Fido's Dog Spa's financial statements show that its total assets equal $100,000, its return on assets (ROA) is 3 percent, and its return on equity (ROE) is 5 percent. (a) Compute the company's net income. (6) What portion of total assets is financed with debt? Fido's has no preferred stock