Patrick Inc. The balance sheet and income statement shown below are for Patrick Inc. Note that the firm has no amortization charges, it does not lease any assets, none of its debt must be retired during the next 5 years, and the notes payable will be rolled over Balance Sheet (Millions o Assets 2016 Cash and securities S 1,554.0 Accounts receivable 9,660.0 Inventories 13.440.0 Total current assets $24,654.0 Net plant and equipment 17.346.0 Total assets Liabilities and Equity Accounts payable Notes payable $42,000.0 7,980.0 5,880.0 Accruals Total current liabilities $18,480.0 Long-term bonds 10920.0 Total debt $29,400.0 Common stock 3,360.0 Retained earnings Total common equity Total liabilities and equity S12.600.0 $42,000.0 Income Statenent (Millions of 2016 Net sales $58,800.0 Operating costs except depr'n Depreciation Earnings bef int and taxes (EBIT) $54,978.0 S 1029.0 S 2,793.0 Less interest Earnings before taxes (EBT) 1743.0 S610.1 laxes laxes S 610.1 Net income 1,133.0 Other data: Shares outstanding (millions) 175.00 Common dividends S 509.83 Int rate on notes payable & L-T bonds Federal plus state income tax rate Year-end stock price 6.25% 35% $77.69 Refer to the data for Patrick Inc. Calculate the following ratios 1. Days Sales Outstanding (DSO) 2. Times Interest Earned (TIE) . Return on Equity Write a brief paragraph evaluating your findings considering its competitor has a DSO of 20 days, a TIE of 4, and an ROE of 15%