MA-17. Measures of Performance and Financial Leverage Following are selected data from year-end financial statements of Lima Corporation 2016 LO5 for 2017 and 2017 2016 MBC 69,000 832,000 452,875 61,000 845,000 411,900 Sales. . . . .2,428,750 2,100,000 Required a. Compute the following performance measurement ratios for 2017. (lgnore income taxes.) 1. 2. 3. Asset turnover Return on sales Return on assets Return on equity 4. Explain. b. Is Lima Company using financial leverage? If so, is the leverage favorable or unfavorable? LO5