calculate avergae collectiom period for 2017, and 2018

(Ratio analysis) The financial statements and industry non wo ASSETS 2018 195 OTI 547 a. Compute the ratios in the popup window. for 2017 b. How liquid is the firm? c. Are is managers generating an adequate operating pro d. How is the f inancing its assets e. Are its managers generating a good return on equity? Note: 15% of sales are cash sales, with the remaining 85% mousey Norm Current ratio 25.00x58 (Round the numbers to two decimal places and select you $ 1,191 $ 1.194 Cash Accounts receivable Inventory Current assets Plant and equipment Less accumulated depreciation Net plant and equipment Total assets $ 2.695 (1.198) 1.195 $ 2,386 $ 1.397 $ 2.591 LIABILITIES AND OWNERS' EQUITY Accounts payable $ 152 Acid-lest (quick) ratio (Round the numbers to two decimal places and select your Print Inventory turnover 220X 2.20X (Round the numbers to two decimal places and select your evaluation from the drop-down menu.) Industry Norm 2017 Average collection period 90.00 days days Data Table 2018 $ 1,447 848 $ 599 Pamplin Inc. Income Statement for Years Ending 12/31/2017 and 12/31/2018 2017 Sales (85% credit sales) $ 1,202 Cost of goods sold 698 Gross profit $ 504 Operating expenses $ 33 Depreciation 223 Operating profits Interest expense Profit before taxes Taxes (21%) Net income $ 43 190 $ 233 366 68 298 63 235