Name Assignment #2 FIN 3320.003 Fall 2021 Use the following to answer questions 1-16: YOU MUST SHOW YOUR WORK! The financial statements of Miller Instruments, Inc. are given below: Miller Instruments, Inc. Income Statement (2020) Sales $8,000,000 Cost of goods sold 3,260,000 Gross profit 2,740,000 Selling and administrative expenses 1,350,000 Depreciation 150,000 EBIT 1,240,000 Interest expenses 140,000 Income before tax 1,100,000 Tax expense 440,000 Net income $660,000 Balance Sheet 2020 2019 Cash $200,000 $50,000 Accounts receivable 1,200,000 950,000 Inventory 1,840,000 1,500,000 Total current assets 3,240,000 2,500,000 Fixed assets 3,200,000 3,000,000 Total assets $6,440,000 $5,500,000 Accounts payable 800,000 720,000 Bank loan 600,000 100,000 Total current liabilities 1,400,000 820,000 Bonds payable 900,000 1,000,000 Total liabilities 2,300,000 1,820,000 Common stock (130,000 shares) 300,000 300,000 Retained earnings 3,840,000 3,380,000 Total liabilities & equity $6,440,000 $5,500,000 Note: The common shares are trading in the stock market for $40 each. 2. The firm's quick rato for 2020 is 1 3. The debt ratio for 2020 is 4. The firm's interest coverage ratio for 2020 is 3. The firm's days sales outstanding period for 2020 is 6. The firm's inventory turnover ratio for 2020 is 7. The firm's asset turnover ratio for 2020 is 8. The firm's financial leverage ratio for 2020 is_ 9. The firm's profit margin ratio for 2020 is percent 10. The firm's return on equity ratio for 2020 is 11. The firm's return on assets ratio for 2020 is 12. The firm's P/E ratio for 2020 is 13. The firm's price to book value ratio for 2020 is 14. The firm's price to sales ratio for 2020 is_ 15. The firm's Enterprise value (EV)EBITDA ratio for 2020 is _ 16. Calculate the firm's return on equity (ROE) using the DuPont identity