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Financial statements for Askew Industries for 2021 are shown below (in thousands): 2021 Income Statement Net sales $ 9,400 Cost of goods sold (6,400 )

Financial statements for Askew Industries for 2021 are shown below (in thousands):

2021 Income Statement
Net sales $ 9,400
Cost of goods sold (6,400 )
Gross profit 3,000
Operating expenses (2,200 )
Interest expense (240 )
Income tax expense (224 )
Net income $ 336

Comparative Balance Sheets
Dec. 31
2021 2020
Assets
Cash $ 640 $ 540
Accounts receivable 640 440
Inventory 840 640
Property, plant, and equipment (net) 2,400 2,500
$ 4,520 $ 4,120
Liabilities and Shareholders Equity
Current liabilities $ 1,340 $ 1,090
Bonds payable 1,600 1,600
Common stock 640 640
Retained earnings 940 790
$ 4,520 $ 4,120

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.)

image text in transcribed \begin{tabular}{c|l|l|l} \hline 1. & Inventory turnover ratio & & \\ \hline 2. & Average days in inventory & & days \\ \hline 3. & Receivables tumover ratio & & \\ \hline 4. & Average collection period & days \\ \hline 5. & Asset turnover ratio & & \\ \hline 6. & Profit margin on sales & % \\ \hline 7. & Return on assets & % \\ \hline 8. & Return on equity & % \\ \hline 9. & Equity multiplier & times \\ \hline 10. & Return on equity (using the DuPont framework) & % \\ \hline \end{tabular}

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