I Q3 D. (20 Marks) From the Financial Statements above calculate the following financial ratios: Show definition, formula and calculation 1. Days in Inventory 2. Return on Equity 3. Return on Assets . Answer: Income statement: Particulars Net sales Cost of goods sold Gross profit Other expenses Depreciation Interest expenses Taxes Net income Amount 13194 4060 9134 4060 2518 685 570 1301 Balance sheet: I Q3 D. (20 Marks) From the Financial Statements above calculate the following financial ratios: Show definition, formula and calculation 1. Days in Inventory 2. Return on Equity 3. Return on Assets . Answer: Income statement: Particulars Net sales Cost of goods sold Gross profit Other expenses Depreciation Interest expenses Taxes Net income Amount 13194 4060 9134 4060 2518 685 570 1301 Balance sheet