(4 points) Calculate the following ratios and answer the corresponding questions (use 360 days per year and show your work): 3. Balance Sheet Income Statement Sales CGS Cash 3,600 1,800 1,800 1,000 800 50 300 450 50 300 300 A/R Inventory Fixed Assets net Gross Profit Operating Exp Operating Inc Interest Exp Tax Exp (40%) 500 Accounts Payable L.T. Debt 1,150 200 250 Capital Stock 300 400 Net Income RE 1,150 Current - Does this show that the company can pay its current obligations? a. b. Average Collection Period- Based on the industry average of 30 days, what does this say about the company