. Optus 10:46 AM Question 7: (14 marks) Selected financial data of two intense competitors in a recent year are presented here (in millions) ABC LTD XYZ LTD STATEMENT OF PROFIT OR LOSS DATA $40 000 (32 000) (7 200) Net sales Cost of sales Selling and administrative expenses Finance expense Gain on sale of equipment Income tax expense Profit 600 582 000 (65 000) (13 000) (1000) 200 (1 200) $2.000 800 (300) $700 Current assets Property, plant and equipment (net) Total assets Current liabilities Non-current liabilities Total equity Total liabilities and equity STATEMENT OF FINANCIAL POSITION DATA (END-OF-YEAR) $11 000 $11 000 9 000 17 481 $20 000 $28 481 $5 500 S9 000 8 200 11 000 6 300 8 481 $20 000 $28 481 Total assets Current liabilities Total equity BEGINNING-OF-YEAR BALANCES $17 504 $26 441 5698 9 981 6 093 10 753 OTHER DATA Average net receivables 55 500 S2 200 Average inventory 5 000 8 000 Net cash provided by operating activities 1 000 2 500 Required: a. For each entity, calculate the following: (6 marks) 1. Current ratio. 2. Receivables turnover. 3. Average collection period. 4. Profit margin 5. Return on assets. 6. Debt to total assets ratio (Hint: Use beginning of year information provided to calculate beginning of year balance for total liabilities.) a. Type your answer in the following blank space