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Financial statements for Askew Industries for 2021 are shown below (in thousands): 2021 Income Statement Net sales $ 9. see Cost of goods sold _(6,5ee
Financial statements for Askew Industries for 2021 are shown below (in thousands): 2021 Income Statement Net sales $ 9. see Cost of goods sold _(6,5ee Gross profit 3,300 Operating expenses (2,300) Interest expense (280) Income tax expense (288) Net income $ 432 Comparative Balance Sheets - Dec. 31 2021 2029 Assets Cash Accounts receivable Inventory Property, plant, and equipment (net) $ 689 $ 580 689489 889 680 2,800 2,900 $5,640 $4,640 Liabilities and Shareholders' Equity Current liabilities Bonds payable Common stock Retained earnings $1,589 1.899 $1,330 1.899 688 980 $5,640 830 $4,640 Required: Calculate the following ratios for 2021. (Consider 365 days a year. Do not round Intermediate calculations and round your final answers to 2 decimal places.) 1. Inventory turnover ratio 2. Average days in inventory 3. Receivables turnover ratio 4. Average collection period 5. Asset turnover ratio 6. Profit margin on sales 7. Return on assets 8. Return on equity 0. Equity multiplier 10. Return on equity (using the DuPont framework)
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