A firm has been experiencing low profitability in recent years. Perform an analysis of the firm's financial position using the DuPont equation. The firm has no lease payments but has a $1 million sinking fund payment on its debt. The most recent industry average ratios and the firm's financial statements are as follows: Industry Average Ratios Current ratio 5x Debt-to-capital ratio Times interest eamed 2x 15% 6x Fixed assets turaver Total assets turnover Profit margin 3 x 4.50% 13.50% EBITDA coverage Retum on total assets 9x 8x Inventory turnover 15.70% Retum on common equity Days sales 24 days 14.60% Retum on invested capital outstanding *Calculation is based on a 365-day year. Balance Sheet as of December 31, 2021 (millions of dollars) Cash and equivalents. $ 79 Accounts payable $ 58 74 Other current liabilities 11 Accounts receivables Inventories 163 Notes payable 47 $116 Total current assets $315 Total current liabilities Long-term debt Total liabilities 21 $137 142 Gross fixed assets 235 Common stack Less depreciation Retained earnings 246 27 $209 Net fixed assets Total stockholders' equity $388 Total assets $ 525 Total liabilities and equity $525 Income Statement for Year Ended December 31, 2021 (millions of dollars) Net sales $ 895.00 Cost of goods sold 720.00 Gross profit $ 175.00 92.50 Selling expenses EBITDA $ 82.50 Depreciation expense 16.00 Earnings before interest and taxes (EBIT) $ 66.50 Interest expense 7.50 Earnings before taxes (FBT) $ 59.00 Taxes (25%) 14.75 Net Income $44.25 a. Calculate the following ratios. Do not round intermediate calculations. Round your answers to two decimal places. Firm Industry Average Current ratio 2 x X Debt to total capital 15% Times interest earned 6 x 9x EBITDA coverage Inventory turnover 8x Days sales outstanding 24 days Fixed assets turnover 5x 3x Total assets turnover Profit margin % 4.50% Return on total assets % 13.50% Return on common equity % 16.70% Return on invested capital % 14.60% b. Construct a DuPont equation, and the dustry. Do not round intermediate calculations. Round your answers to two decimal places. Industry Firm % Profit margin 4.50% Total assets turnover X 3x Equity multiplier X % X X X days X X