Please calculate the firm's 1996 ratios listed in Exhibit 3.

EXHIBIT 3 Financial Ratios for the Holly Fashions Company: 1993-1996 Industry (Present) Avenue 1993 1994 1995 1996 1993-1996* Liquidity Ratios 2.6 Current 3.8 3.7 3.4 1.7 1.3 1.6 Quick 24 24 1.8 6 Leverage Ratios 41 Debt(%) 41.1 37.7 35.3 57 71 Times interest 74 earned 80 8.5 11.6 3.9 1.3 Activity Ratios Inventory Turnover 8.1 (CGS) 6.4 6.4 4.8 6.0 3.5 Fixed Asset 40 Turnover 30.0 29.3 30.1 12 Total Asset 35 Turnover 28 28 2.7 2.8 2.0 (continued)EXHIBIT 3 (Continued) Industry (Present) 1993 1994 1995 1996 1993-1996+ Average Collection 41 Period 56 55 51 50 68 Days Purchases 18 Outstanding* 25 22 31 Profitability Ratios Gross Margin (%) 24.0 25.5 24.9 4.2 Net Profit Margin (%) 3.0 26 2.6 3.1 1.2 273 Return on Equity (%) 14.3 11.6 10.8 19.5 7.8 Return on Total 11.8 Assets (%) 8.4 7.2 7.0 8.7 3.4 9.9 Operating Margin* * (%) 6.8 6.0 6.1 7.2 3.1