A) The balance sheet and income statement for the I.P. Robard Mfg Company are as follows: (12 marks) Balance Sheet (5000) Cash Accounts receivable Inventories Current assets Net fixed 25:ets Total assets Accounts payable Accrued expenses Short-term notes payable Current liabilities Long-term debt Oumers' equity Total liabilities and oners' equity $ 500 2.000 1,000 3,500 4.300 $8,000 $ $1,100 600 300 $2.000 2,000 4,000 $8,000 $8,000 (3.300) 4,700 Income Statement (5000) Net sales (all credit) Cost of goods sold Gross profit Operating expenses (includes $500 depreciation) Operating income Interest expense Eamings before taxes Income taxes (40%) Net income (3.000) 1,700 (367) $1,333 (533) $ 800 A) Calculate and interpret the financial ratios for 2019 corresponding to the industry norms provided as follows: INDUSTRY NORMIS Current ratio 1.51 Inventory tumover 1x Total asset turnover Operating profit margin Operating income return on investment 18% 18% Debt ratio 60% Average collection period 100 days Fixed asset tumover 1.3:1 Return on equity 15% B) The company is applying for Bank Loan Write a report to Gulf Bark PLC whether you recommend the bank for sanction of Lom. (4 marks 250 words) C) Would you recommend investment in this company? Similar companies pay 12% retum. Calculate any other ratio you think appropriate Write a report. (4 marks 250 words)