Learned f Asset turn PI57 (LO 2) Presented below is an incomplete income statement and incomplete comparative state- ments of financial position of Bondi ASA. Compute miss set of ratios Bondi ASA Income Statement For the Year Ended December 31, 2020 10.500.000 2 Net sales Cost of goods sold Gross profit Operating expenses Income from operations Interest expense Income before income taxes Income tax expense Net income 1.500.000 2 550.000 2 Bondi ASA Statements of Financial Position December 31 Assets 2019 2020 4.620,000 4.355.000 Plant assets (net) Current assets Inventory Accounts receivable (net) Cash Total current assets 2 2 480,000 1.720,000 1,050,000 375.000 3.145,000 7,500,000 ? Total assets 2 2020 3.000.000 400.000 3.400.000 Equity and Liabilities Share capital-ordinary, 1 par Retained earnings Total equity Long-term notes payable Current liabilities Total liabilities Total equity and liabilities 2019 3.000.000 375.000 3,375.000 3.300.000 825.000 4.125.000 7.500.000 2 2 2 ? Additional information: 1. The accounts receivable turnover for 2020 is 8 times. 2. All sales are on account. 3. The profit margin for 2020 is 14.5%. 4. Return on assets is 20% for 2020. 5. The current ratio on December 31, 2020, is 2.5. 6. The inventory turnover for 2020 is 4.9 times. 5 Financial Analysis: The Big Picture Instructions Compute the missing information given the ratios above. Show computations. (Note: Start with one ratio and derive as much information as possible from it before trying another ratio. List all missing amounts under the ratio used to find the information.)