| Baker College | Undergraduate, ( x () Financial Analysis and ApplicationX Question 8 - M1 CONNECT Prob X M Inbox (1,193) - mkrug103@baker x * Course Hero * + X C https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fnewconnect.mheducation.com%252F#/activity/question-group/kEZASsBkEPu78tS8v_ydpmAz-zCbQ9LZfnHmQelTI-xg 15... A" to ... M1 CONNECT Problems i Saved Help Save & Exit Submit Check my work 8 Long-term debt ratio 8.1 Times interest earned 8.0 Current ratio 1.8 5 Quick ratio 1.0 points Cash ratio 0.4 Inventory turnover 4.0 Average collection period 73 days eBook Use the above information from the tables to work out the following missing entries, and then calculate the company's return on + equity. Note: Turnover and the average collection period are calculated using start-of-year, not average, values. (Enter your answers In millions. Round Intermediate calculations and final answers to 2 decimal places.) References INCOME STATEMENT (Figures in $ millions) Net sales s 260.00 Cost of goods sold 176.00 Selling, general, and administrative expenses 28.00 Depreciation 38.00 Earnings before interest and taxes (EBIT) $ 18.00 Interest expense 2.25 Income before tax S 15.75 Tax (35% of income before tax) 5.51 Net income 10.24 BALANCE SHEET (Figures in $ millions) This Year Last Year Assets Cash and marketable securities $ 38 Accounts receivable 52 Inventories 44 Total current assets $ 134 Net property, plant, and equipment 43 Total assets $ 177 Activate Windows I iahilitioc and charaholdare' armitu Go to Settings to activate Windows. Mc Type here to search O 80 F Mostly cloudy ~ 9 7. 12:04 PM 7/5/2022 21| Baker College | Undergraduate, ( x () Financial Analysis and Application x Question 8 - M1 CONNECT Prob X Mi Inbox (1,193) - mkrug103@baker x * Course Hero * + X C https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=08launchUrl=https%253A%252F%252Fnewconnect.mheducation.com%252F#/activity/question-group/kEZASsBkEPu78tS8v_ydpmAz-zCbQ9LZfnHmQeJTI-xg15... A" to ... M1 CONNECT Problems i Saved Help Save & Exit Submit Check my work 8 INCOME STATEMENT (Figures in $ millions) Net sales 260.00 5 Cost of goods sold 176.00 points Selling, general, and administrative expenses 28.00 Depreciation 38.00 Earnings before interest and taxes (EBIT) 18.00 Interest expense 2.25 eBook Income before tax 15.75 + Tax (35% of income before tax) 5.51 References Net income 10.24 BALANCE SHEET (Figures in $ millions) This Year Last Year Assets Cash and marketable securities $ 38 Accounts receivable 52 Inventories 44 Total current assets $ 134 Net property, plant, and equipment 43 Total assets $ 177 Liabilities and shareholders' equity Accounts payable $ 20.00 $ 15 Notes payable 25.00 30 Total current liabilities $ 45 Long-term debt 17 Shareholders' equity 115 Total liabilities and shareholders' equity 250.00 $ 177 Activate Windows Go to Settings to activate Windows. Mc Hill Type here to search 80F Mostly cloudy ~ 9 7. 12:04 PM 7/5/2022 21