ACC321 Term Project: Part 4 - Ratio Analysis Compute the following ratios from the Financial Statements provided: GAAP IFRS a. Current 1.89 current ratio= current assests/current liabilities b. Quick 1.13 quick ratio= quick assests/ current liabilities c. Debt to Assets total assets / total debt d. Return on Assets 30.0% return on assets= net income/average total assets e. Return on Equity 66.0% net income/ equity f. Profit Margin 10.0% net income/ net sales g. Gross Margin net sales - cogs h. Asset Turnover 3.02 asset turnover= net sales/ average total assets Required: Discuss why the financial statements and ratios differ under the two standards of accounting