Instructions: Using the following information compute the requested financial ratios. All answers should be typed. Remember to show all your work. 1) The balance sheet and income statement shown below are for Gibson Inc. Note that the firm has no amortization charges, it does not lease any assets, none of its debt must be retired during the next 5 years, and the notes payable will be rolled over. Balance Sheet (Millions of $) Assets 2022 Cash and securities Accounts receivable Inventories Total current assets Net plant and equipment Total assets Liabilities and Equity Accounts payable Notes payable Accruals Total current liabilities Long-term bonds Total debt Common stock Retained earnings $2,500 11,500 16,000 $30,000 $20,000 $50,000 $ 9,500 7,000 5,500 $22,000 $15,000 $37,000 $ 2,000 11,000 Total common equity Total liabilities and equity $13,000 $50,000 Income Statement (Millions of $) Net sales Operating costs except depreciation Depreciation Earnings bef interest and taxes (EBIT) Less interest Earnings before taxes (EBT) Taxes Net income 2012 $87,500 81,813 1,531 $ 4,156 1,375 $2,781 973 $ 1,808 Other data: Shares outstanding (millions) 500.00 Common dividends $632.73 Int rate on notes payable & L-T bonds 6.25% Federal plus state income tax rate 35% Year-end stock price $43.39 a. What is the firm's current ratio? b. What is the firm's quick ratio? c. What is the firm's days sales outstanding? Assume a 365-day year for this calculation. d. What is the firm's total assets turnover? e. What is the firm's inventory turnover ratio? f. What is the firm's TIE? g. What is the firm's debt/assets ratio? h. What is the firm's ROA? i. What is the firm's ROE? j. What is the firm's profit margin?