m the values of the different ratios given, calculate the missing balance sheet and income statement items of National Sponge Company. 5-35. From the va nt items of National Sponge Company Average Collection Period Inventory Turnover Debt to Asset Ratio Current Ratio Total Asset Turnover Fixed Asset Turnover Return on Equity Return on Assets Operating Profit Margin Gross Profit Margin 48.67 days 9x .4 or 40% 1.6250 1.5 2.647 0.1933 or 19.33% 0.116 or 11.6% 13.33% 48.89% National Sponge Company Income Statement for 2015 (000 dollars) Sales Cost of Goods Sold Gross Profit Selling and Administrative Expenses Depreciation Expense Operating Income (EBIT) Interest Expense Earnings before Taxes (EBT) Income Taxes (T = 40%) Net Income (NI) $45,000 3,000 2,320 Chapter 5 Analysis of