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3 Financial statements for Askew Industries for 2021 are shown below (in thousands): 2021 Income Statement Net sales Cost of goods sold Operating expenses
3 Financial statements for Askew Industries for 2021 are shown below (in thousands): 2021 Income Statement Net sales Cost of goods sold Operating expenses $ 9,200 (6,350) Gross profit 2,850 (2,150) Interest expense (220) Income tax expense (192) Net income $ 288 02:24:10 33.34 points eBook Assets Cash Accounts receivable Inventory Comparative Balance Sheets Dec. 31 2021 2028 $ 620 $ 520 620 820 2,200 420 620 2,300 References Property, plant, and equipment (net) Liabilities and Shareholders' Equity Current liabilities Bonds payable Common stock Retained earnings $4,260 $3,860 $1,220 1,500 620 $ 970 1,500 920 620 770 $4,260 $3,860 Required: Calculate the following ratios for 2021. (Consider 365 days a year. Do not round Intermediate calculations and roun answers to 2 decimal places.) 1. Inventory turnover ratio 2. Average days in inventory 3. Receivables turnover ratio 4. Average collection period 5. Asset turnover ratio 6. Profit margin on sales 7. Return on assets 8. Return on equity 9. Equity multiplier 10. Return on equity (using the DuPont framework) days days % % % times %
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