Joseph Berio is a loan officer with the First Bank of Tennessee. Red Brick, Inc., a major producer of masonry products, has applied for a short$-$term loan. Red Brick supplies building material throughout the southern states, with brick plants located in Tennessee, Alabama, Georgia, and Indiana.The firms income statement and balance sheet are given below. The third table presents both a ratio analysis of Red Bricks previous years financial statements and the industry averages of the ratios.Red Brick Income Statement$($for the period ending December $12/31/20$X$1)$Sales$$236,000,000$Cost of goods sold$149,000,000$Administrative expenses$21,000,000$Operating income$$66,000,000$Interest expense$15,000,000$Taxes$500,000$Net income$$50,500,000$Red Brick Balance Sheet as of $12/31/20$X$2$AssetsLiabilities and Stockholders EquityCash$$600,000$Accounts payable$$40,000,000$Accounts receivable$28,000,000*$Notes payable$11,000,000$Inventory$79,300,000$Long$-$term debt$45,000,000$Plant and equipment$132,000,000$Stockholders equity$143,900,000$$$239,900,000$$$239,900,000*80\%$ of sales are on credit. Previous years inventory was $$62,400,000.$Companys RatiosIndustry$($Previous Year$)$AverageCurrent ratio$2\mathrm{.}0$:$12\mathrm{.}0$:$1$Quick ratio$0\mathrm{.}5$:$10\mathrm{.}8$:$1$Inventory turnover$5\mathrm{.}1$x$4\mathrm{.}7$xAverage collection period$33$ days$46$ daysDebt ratio $($debt$/$total assets$)30\%41\%$Times$-$interest$-$earned$4\mathrm{.}43\mathrm{.}9$Return on equity$39\mathrm{.}1\%14\mathrm{.}2\%$Return on assets$23\mathrm{.}2\%10\mathrm{.}1\%$Operating profit margin$21\mathrm{.}5\%15\mathrm{.}2\%$Net profit margin$16\mathrm{.}5\%9\mathrm{.}0\%$To help decide whether to grant the loan, compute the following ratios and compare the results with the company's previous year ratios and industry averages. Assume there are $365$ days in a year. Do not round intermediate calculations. Round your answers to two decimal places.Current ratio of times is the industry average and the ratio in the previous year.Quick ratio of times is the industry average and the ratio in the previous year.Inventory turnover ratio of is the industry average and the ratio in the previous year.Average collection period of days is the industry average and the ratio in the previous year.Debt ratio of $\%$ is the industry average and the ratio in the previous year.Times$-$interest$-$earned ratio of is the industry average and the ratio in the previous year.Return on equity ratio of $\%$ is the industry average and the ratio in the previous year.Return on assets ratio of $\%$ is the industry average and the ratio in the previous year.Operating profit margin ratio of $\%$ is the industry average and the ratio in the previous year.Net profit margin ratio of $\%$ is the industry average and the ratio in the previous year.