Financial statements for Askew Industries for 2021 are shown below in thousands): 4-12 Calculating ctivity and ofitability ratios L04-10 2021 Income Statement Net sales Cost of goods sold Gross profit Operating expenses Interest expense Income tax expense Net income $9.000 (6,300) 2,700 (2,100) (200) (100) $ 300 Comparative Balance Sheets Dec. 31 2021 2020 Assets Cash Accounts receivable Inventory Property, plant, and equipment (net) $ 600 600 800 2,000 $4,000 $ 500 400 600 2,100 $3,600 Liabilities and Shareholders' Equity Current liabilities Bonds payable Common stock Retained earnings $1,100 1,400 600 900 $4,000 $ 850 1,400 600 750 $3,600 Required: Calculate the following ratios for 2021. 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 9. Equity multiplier 10. Return on equity (using the DuPont framework)