mo, Inc. me Statement 7. The following balance sheet and income statement are used for this questions. Compute the financial ratios and compare the ratios to the industry; be sure to use the average of the amounts where appropriate. millions) Net Sales Less: Cost of Goods Sold $1,500 580 Less: Depreciation Earnings Before Interest and Taxes (EBIT) Less: Interest Paid 180 740 90 Taxable income (Earning Before Taxes: EBT) 650 Less Taxes 150 Net income $500 Addition to Retained Earnings $354 Dividends Paid 146 Momo, Inc. 2020 and 2021 Balance Sheet (5 in millions) 2020 2021 Cash $120 $151 Accounts payable 2020 2021 5450 5380 Accounts Receivable 400 475 Notes payable 300 400 Inventory Total current assets 5920 5986 Net fixed assets 40 360 Total current liabilities $840 5780 Long-term debe 1656 1809 Total liabilities 1,420 1,396 Common Stock 600 580 Retained earnings 556 819 Total assets $2.576 $2,786 Total liabilities & equity $2576 $2.786 Calculate ratio Result of Industry Assess Leverage.ne total liabilities 0.55 Total debt ratio- total assets 2. Liquidity t 1.20 Current ratio current liabilities Efficiency to 3.2 4. Profitability ratios 1.70 EBIT-tas Net profit margin- 19.76 4.1 Net income Return on equity 0.05% average equity 4.2 OK/W