Following are the financial statements for Flynn Corporation for the year ended December 31, 20 . Assume that all balance sheet amounts represent both average and ending figures. Use this information tow er guestions 17 through 21. Flynn Corporation Halance Sheet December 31, 2015 $40.00 6000 100.00 200,000 70,000 130.000 Property plant and equipment Total assets Liabilities and Stockholders' Equity Current liabilities Long-term liabilities Stockholders' equity Total liabilities and stockholders' equity $200,000 120.000 280.000 5.600.000 $400,000 240.000 Flynn Corporation Income Statement For the Year Ended December 31, 205 Net sales Cost of goods sold Gross margin Operating expenses Income before income taxes Income taxes expense T Net Income 40.000 $120,000 30.000 $ 90.000 17) What is the profit margin for this corporation? Round your answer to one decimal place. Select one: a) 40.0 percent 22.5 percent c) 53.3 percent d) 30.0 percent wer to one decimal receivable turnover for this corporation? Round your answer to One What is the receivable turnover for this com place. Select one: a) 2.4 times b) 0.9 times c) 4.0 times d) 3.0 times 19) What is the inventory turnover for this corporation! place. for this corporation? Round your answer to one decimal Select one: a) 4.0 times b) 1.2 times c) 2.4 times d) 1.6 times 20) What is the return on assets for this corporation? Round your answer to irporation? Round your answer to one decimal place. Select one: a) 15.0 percent b) 20.0 percent c) 26.7 percent d) 37.5 percent 21) What is the current ratio for this corporation? Round your answer to two decimal places. Select one: a) 2.00 times b) 1.50 times c) 1.70 times d) 0.66 times 22) If sales for 2018 (the base year), 2019, and 2020 are $40,000, $31,200, and $49,200, respectively, the index numbers assigned to 2019 and 2020, respectively, are Select one: a) 156 and 118 b) 78 and 123. c) 62.4 and 128. d) 128.2 and 133