II. Below are the financial statements for Trust Inc. Use the statements to answer the questions that follow (8 Points) Balance Sheet (Millions of $) Assets Cash 1,050 Accounts receivable 4,830 Inventories 6,450 Net plant and equipment 8,670 Total assets 21,000 Liabilities and Equity Accounts payable 4,000 Notes payable 2,950 Accruals 2,300 Long-term bonds 5450 Common stock 1,680 Retained earnings 4,620 Total liabilities and equity 21,000 Income Statement (Millions of $) Net sales 29,400 Operating costs 27,500 Depreciation 515 Interest 520 Taxes 300 Net income 565 Use the financial statements above to: a. Calculate the ratios given in the table below b. Interpret the ratios that you calculate c. Explain the significance of the calculated ratios compared to the industry average Ratio Industry Average Quick ratio 1.25 Average collection period 40 Debt-to-equity ratio 3 Return on equity 17%