(7-14) Comprehensive Ratio Analysis The Jimenez Corporation's forecasted 2022 financial statements follow, along with some industry average ratios. Calculate Jimenez's 2022 fore- casted ratios, compare them with the industry average data, and comment briefly on Jimenez's projected strengths and weaknesses. Jimenez Corporation: Forecasted Balance Sheet as of December 31, 2022 Assets Cash $ 72,000 439,000 Accounts receivable Inventories Total current assets Fixed assets Total assets Liabilities and Equity Accounts payable Notes payable Accruals Total current liabilities. Long-term debt 894,000 $1,405,000 431,000 $1,836,000 $ 332,000 100,000 170,000 $ 602,000 404,290 Common stock Retained earnings Total liabilities and equity Jimenez Corporation: Forecasted Income Statement for 2022 575,000 254,710 $1,836,000 Sales $4,290,000 Cost of goods sold 3,580,000 Selling, general, and administrative expenses 406,456 Earnings before taxes (EBT) $ 184,544 Interest expense Earnings before taxes (EBT) Taxes (25%) Net income 40,000 $ 144,544 36,136 $ 108,408 Jimenez Corporation: Per Share Data for 2022 EPS Cash dividends per share P/E ratio Market price (average) Number of shares outstanding Ratio Quick ratio Current ratio Inventory turnoverb Days sales outstanding Fixed assets turnover $ 4.71 $ 0.95 5.0 $23.57 23,000 Jimenez Industry Average* 1.0 2.7 7.0 32.0 days 13.0 Total assets turnover 2.6 Return on assets 9.1% Return on equity 18.2% Profit margin on sales 3.5% Debt-to-assets ratio 21.0% Liabilities-to-assets ratio 50.0% P/E ratio 6.0 I Market/Book ratio 3.5 Notes: "Industry average ratios have been stable for the past 4 years. "Based on year-end balance sheet figures. "Calculation is based on a 365-day year.