E 3-8 DuPont Framework The following information is for Philip Company: Current assets Total assets Current liabilities Total liabilities Stockholders' equity Sales Net income 20X3 $ 34,000 130,000 25,000 45,000 85,000 550,000 35,000 20X2 $ 30,000 110,000 20,000 40,000 70,000 430,000 22,000 20X1 $ 37,000 90,000 20,000 45,000 45,000 300,000 20,000 Required For the years 20X1, 20X2, and 20X3, compute: 1. Return on equity 2. Return on sales 3. Asset turnover 4. Assets-to-equity ratio