Freedom Corporation reported these figures: (Click the icon to view the balance sheet.) (Click the icon to view the income statement.) Freedom Corporation has 2,500,000 shares of common stock outstanding. Its stock has traded recently at $30.80 per share. You would like to gain a better understanding of Freedom Corporation's financial position. Assume all sales are on credit. Read the requirement. Requirement Calculate the following ratios for 2017 and interpret the results: a. Inventory turnover b. Days' sales in receivables c. Acid-test ratio d. Times-interest-earned e. Gross profit percentage f. Operating income percentage g. Return on stockholders' equity h. Earnings per share i. Price/earnings ratio Get more help - Balance sheet Freedom Corporation Balance Sheets December 31, 2017 and 2016 (amounts in thousands) 2017 2016 Assets Current assets: Cash 3,575 $ 2,400 Accounts receivables 2,200 1,980 Inventory 1,200 800 2,790 Other current assets 3,020 Print Done Total current assets 9,765 $ 8,200 19,000 17,000 Other assets $ 28,765 $ 25,200 Total assets Liabilities Total current liabilities Long-term liabilities answer to one 10,500 $ 9,000 6,265 8,200 Check answer