DEF Inc., an automobile manufacturing company, has the following financial data for the fiscal year ended March 31, 2023:

Net Sales: $8,000,000

Cost of Goods Sold: $5,000,000

Depreciation Expense: $600,000

Operating Expenses: $1,000,000

Interest Expense: $200,000

Income Tax Expense: $400,000

Current Assets: $1,200,000

Current Liabilities: $800,000

Total Assets: $6,000,000

Total Liabilities: $3,500,000

Requirements:

Prepare a detailed income statement for DEF Inc. for the fiscal year ended March 31, 2023.

Calculate the earnings before interest and taxes (EBIT).

Determine the net income.

Compute the current ratio and quick ratio.

Calculate the return on assets (ROA).