Income Stmt info: 2017 2018 Sales $900,000 $990,000 less Cost of Goods Sold: 325,000 346,125 Gross Profit 575,000 643,875 Operating Expenses 450,000 477,000 Earnings before Interest& Taxes 125,000 166,875 Interest exp 25,000 31,000 earnings before Taxes 100,000 135,875 Taxes 40,000 54,350 Net Income $60,000 $81,525 Balance Sheet info: 12/31/17 12/31/18 Cash 60,000 $63,600 Accounts Receivable 80,000 $89,600 Inventory 110,000 $118,800 Total Current Assets $250,000 $272,000 Fixed Assets (Net) $300,000 $330,000 Total Assets $550,000 $602,000 Current Liabilities $130,000 $156,000 Long Term Liabilities $150,000 $170,000 Total Liabilities $280,000 $326,000 Stockholder's Equity $270,000 $276,000 Total Liab & Equity: $550,000 $602,000 Compute each of the following ratios for 2017 and 2018 and indicate whether each ratio wasgetting "better" or "worse" from 2017 to 2018 and whether the 2018 ratio was "good" or "bad" compared to the Industry Avg (round all numbers to 2 digits past the decimal place) 2017 2018 Getting Better or Getting Worse? 2018 Industry Avg "Good" or "Bad" compared to Industry Avg Profit Margin 0.09 Current Ratio 1.80 Quick Ratio 1.12 Return on Assets 0.18 Debt to Assets 0.60 Receivables turnover 12.00 Avg. collection period* 22.10 Inventory Turnover** 8.25 Return on Equity 0.16 Times Interest Earned 8.15 calculate the ratios and compare if better or worse than industry average