Du Pont system of analysis (LO3) Gates Appliances has a return-on-assets (investment) ratio of 8 percent. If the debt-to-total-assets ratio is 40 percent, what is the return on equity? If the firm had no debt, what would the return-on. equity ratio be? Average daily sales (LO2) Martin Electronics has an accounts receivable turnover equal to 15 times. If accounts receivable are equal to $80,000, what is the value for average daily credit sales