a. The income statement and balance sheet for the IPM Ltd for 20x3 are as follows: Income Statement for the years ending 20x3 Revenues $750,000 Cost of goods sold 525,000 Gross profit $225,000 Selling, general and administrative expenses 120,000 Operating profit $105,000 Interest expense 15,000 Earnings before tax $ 90,000 Tax (@ 34%) 30,600 Earnings after tax $ 59,400 Balance Sheet as of December 31, 20x3 Cash $ 20,000 Accounts receivable 32,000 Inventory 8,000 Total current assets $ 60,000 Net fixed assets $ 250,000 Total assets $ 310,000 Accounts payable $ 7,500 Accruals 5,600 Notes payable 31,278 Total current liabilities $ 44,378 Long-term debt $ 61,000 Total liabilities $ 105,378 Equity (100,000 shares outstanding) $ 204,622 Total liabilities and equity $ 310,000 Base on the information above, compute the following financial ratios: i. Current ratio ii. Quick ratio iii. Average collection period iv. Inventory turnover v. Total assets turnover vi. Return on Equity vii. Return on Assets viii. Total debt to total equity