Consider the following simplified Statement of Comprehensive Income and Statement of Financial Position from Smith Corporation's 2018 Annual Report to Shareholders. Smith Corporation Statement of Comprehensive Income ($ millions) $8,324 $4,988 $1,190 $2,146 Net sales Cost of goods sold Depreciation Earnings Before interest and taxes Interest paid Taxable income Taxes Net income $320 $1,826 $621 $1,205 Smith Corporation Statement of Financial Position 2017 & 2018 ($ millions) 2018 2017 Cash $5,415 Accounts rec. $2,460 Inventory 2,405 Total 10,280 Net fixed assets 12,300 2018 $3,341 Accounts payable $979 Notes payable 2,885 Total 7,205 Long-term debt 16,720 Common stock Retained earnings 23,925 Total liabilities and Owner's equity 2017 1,110 2,500 3,610 4,800 5,100 9,070 22,580 1,650 1,900 3,550 4,600 5,900 9,875 23,925 Total assets 22,580 e) Calculate the following financial ratios for Smith Corporation for 2018 only (9 marks - 1 each) i. Current ratio ii. Quick ratio iii. Return on assets iv. Debt-to-equity ratio v. Equity multiplier vi. Total Asset Turnover vii. Profit Margin viii. Times interest earned ratio ix. ROE use DuPont f) If Smith Corporation pays its suppliers timelier in 2019, what will happen to its current ratio? Briefly explain! (2 marks)