Note: Please put your answers only in the section below the Bold Red sentence at the end of the Required section below.

A firm had the following abbreviated income statement for $2021$ and abbreviated balance sheets at the end of $2020$ and $2021.$

Income Statement

For the Year Ended Dec. $31,2021$

Sales $600000$

Cost of goods sold $320000$

Gross profit $280000$

Operating expenses $190000$

Depreciation expense $$30,000$

Operating income $($EBIT$)60000$

Interest expense $20000$

Earnings before taxes $40000$

Income tax expense $14000$

Net income $($earnings after tax$)26000$

Balance sheets

Dec. $31,2021$ and $2020$

$20212020$

Cash $1500013000$

Short$-$term investments $4000041000$

Accounts receivable $2500022000$

Inventory $6000060000$

Prepaid expenses $2000011000$

Buildings $($net$)600000620000$

Equipment $($net$)100000109000$

Total assets $860000876000$

Accounts payable $4000020000$

Wages payable $30005000$

Bonds payable $364000414000$

Common stock $200000200000$

Retained earnings $253000237000$

Total liabilities & equity $860000876000$

The company paid a dividend in $2021$ of $$10,000$ and $$9,000$ in $2020.$ All sales are made on account, so there are no cash sales.

Required:

A$.$ Calculate the current ratio at the end of $2021.$

B$.$ Calculate the quick ratio at the end of $2021.$

C$.$ Calculate the working capital at the end of $2021.$

D$.$ Calculate average age of accounts receivable during $2021.$

E$.$ Calculate the inventory turnover during $2021.$

F$.$ Calculate the average age of accounts payable during $2021.$

G$.$ Calculate the accounts receivable turnover during $2021.$

H$.$ Calculate the pre$-$tax profit margin for $2021.$

I. Calculate the cash conversion cycle, in days during $2021.$

J$.$ Calculate the debt$/$equity ratio at the end of $2021.$

K$.$ Calculate the debt ratio at the end of $2021.$

L$.$ Calculate the times interest earned ratio for $2021.$

M$.$ Calculate the dividend payout ratio for $2021.$

N$.$ Calculate the gross profit margin for $2021.$

O$.$ Calculate the operating profit margin for $2021.$

P$.$ Calculate the net profit margin for $2021.$

Q$.$ Calculate the return on assets $($ROA$)$ for $2021.$

R$.$ Calculate the total asset turnover during $2021.$

S$.$ Calculate the return on equity $($ROE$)$ for $2021.$

T$.$ Calculate the marginal tax rate for $2021.$

Your answers to this Problem should be placed in the space below this line.

Answers

A Current ratio $2\mathrm{.}8$

B Quick ratio $0\mathrm{.}96$

C Working capital $77000$

D Average age of accounts receivable

E Inventory turnover $5\mathrm{.}33$

F Average age of accounts payable

G Accounts receivable turnover

H Pre$-$tax profit margin

I Cash conversion cycle

J Debt$/$equity ratio

K Debt ratio

L Times interest earned ratio

M Dividend payout ratio

N Gross profit margin

O Operating profit margin

P Net profit margin

Q Return on assets

R Total asset turnover

S Return on equity

T Marginal tax rate