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Financial statements for Askew Industries for 2021 are shown below (in tho 2021 Income Statement Net sales $ 9,300 Cost of goods sold (6,375) Gross
Financial statements for Askew Industries for 2021 are shown below (in tho 2021 Income Statement Net sales $ 9,300 Cost of goods sold (6,375) Gross profit 2,925 Operating expenses (2,175) Interest expense (230) Income tax expense (288) Net income $ 312 Comparative Balance Sheets Dec. 31 2021 2020 Assets Cash Accounts receivable Twentory Property, plant, and equipment (net) 5630 630 830 2,300 54,390 $530 430 630 2.400 $3,990 Liabilities and Shareholders' Equity Current liabilities Bonds payable Comon stock Retained earnings $1,280 1,550 630 930 $4,390 $1,030 1.550 630 780 53,990 Required: Calculate the following ratios for 2021. (Consider 365 days a year. Do not round answers to 2 decimal places.) days days Inventory turnover ratio 2 Average days In Inventory 3. Recolvablio turnover radio 4 Average collection period 5 Assettomover ratio 6. Profit margin on sales 7 Return on asets 8. Return on equity 9. Equity mulier 10. Return on equity cusing the DuPont tramok 5
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