Discussion Questions and Problems ng the financial statements you prepared, calculate the owing: i) Return on assets ratio i) Return on equity ratio ii) Gross profit percentage v) Return on sales ratio v) Net income to sales ratio vi) Earnings per share ii) Dividend payout ratio ii) Receivables turnover ratio ix) Inventory turnover ratio (x) Asset turnover ratio xi) Current ratio xii) Quick ratio iii) Debt to equity ratio kiv) Debt to assets ratio 3 5 Ltd. has an arrangement with the bank to borrow money on and loan basis to finance large inventory purchases from late er through mid-fall. The loan is repaid over the winter. Inter- charged at the end of each month to Wilkins's chequing at on the average daily balance of the loan outstanding that In 2014, Wilkins borrowed $75,000 on September 1 and er $50,000 on October 15. It made a $40,000 repayment on aber 15 and paid off the balance at the end of February 2015 terest rate was 5.5% in September 2014; on October 1, it fe 5% and remained there until June 2015. Wilkins's year-end mber 31 red Prepare journal entries for the transactions related to demand loan in 2014, and post them to T-accounts. rouming that these are the only loan transactions, show hot and income state