Enter "Better 2017 Enter "Good" or ndustry Bad compared Ratlos 2016 2017 or "Worse" Avg to Industry Avg 0.09 1.80 1.12 0.18 34 Profit Margin Current Ratio Quick Ratio Return on Assets Debt to Assets Receivables turnover Avg. collection period* Inventory Turnover Return on Equity 12.00 22.10 8.25 0.16 8.15 Times Interest Earned Assume a 360 day year Inventory Tumover can be computed 2 different ways. Use the formula listed in the text (the one the text indicates many credit reporting agencies generalty use) Use the following information to answer the questions below note: all sales are credit sales Income Stmt info: 2016 2017 Sales $ 975,000 1,072,500 less Cost of Goods Sold:325,00046,125 650,000 575,000 75,000 25,000 50,000 20,000 30,000 Gross Profit Operating Expenses Earnings before Interest &Taxes 726,375 609,500 116,875 Interest exp earnings before Taxes Taxes 85,875 34,350 51,525 Net Income 5 MacBook Air Net Income $ 30,000$51,525 Balance Sheet info: Cash Accounts Receivable Inventory Total Current Assets Fbxed Assets (Net) Total Assets 12/31/2016 12/81/2017 60,00063,600 80,000 $84,000 110,000 S126,500 $250,000274,100 300,000312,000 130,000 149,500 Current Liabilities Long Term Liabilities Total Liabilities Stockholder's Equity Total Liab &Equity: S 150000 170,000 $280,000319,500 S270,000 266,600 MacBook Air Compute each of the following ratios for 2016 and 2017 and indicate whether each ratio was getting "better" or 'worse from 2016 to 2017 and was good" or "bad" compared to the Industry average for 2017. (round all numbers to 2 digits past the decimal place) Type your answers in the table and submit this document. 2016 2017Enter "Better 2017 Enter "Good" or or "WorseIndstry "Bad" compared Ratios Avg to Industry Avg Profit Margin Current Ratio 0.09 1.80 Quick Ratico 1.12 0.18 0.60N 12.00N 22.10 8.25 0.16 8.15 Return on Assets Debt to Assets Receivables turnover Avg, collection period*R Inventory Turnover Return on Equity Times Interest arned Assume a 360 day year Ieventory Turnover can be computed 2 different ways. Use the fomula listed in the text tthe one the text indicates many credit reporseg agencies generally use) Use the following information to answer the questions below. note: all sales are credit sales Income Stmt inter Sales s975,000 1,072,500 ess Cost of Goods Sold MacBook Air F1o FB 20 F5 F6