Please see the attached question that needs to be answered.

3. (Financial statement analysis) Lopez Electronics' management has long viewed TKO Electronics as an industry leader and uses this firm as a model firm for analyzing its own performance. The balance sheets and income statements for the two firms are as follows: Lopez Electronics, Inc. Balance Sheet ($000) Cash $2,000 TKO Electronics, Inc. Balance Sheet ($000) $1,500 Accounts receivable 4,500 6,000 Inventories 1,500 2,500 Current assets $8,000 Net fixed assets 16,000 Total assets Accounts payable $10,000 25,000 $24,000 $35,000 $2,500 $5,000 Accrued expenses 1,000 1,500 Short-term notes payable 3,500 1,500 Current liabilities $7,000 $8,000 Long-term debt 8,000 4,000 Owners' equity 9,000 23,000 Total liabilities and owners' equity Lopez Electronics, Inc. Income Statement ($000) Net sales (all credit) Cost of goods sold Gross profit Operating expenses Net operating income $48,000 -36,000 $12,000 -8,000 $4,000 $24,000 TKO Electronics, Inc. Income Statement ($000) $70,000 -42,000 $28,000 -12,000 $16,000 $35,000 Interest expense Earnings before taxes Income taxes (40%) Net income -1,150 -550 2,850 15,450 -1,140 -6,180 $1,710 $9,270 1. Calculate the following ratios for both Lopez and TKO: Current ratio Times interest earned Inventory turnover Total asset turnover Operating profit margin Operating return on assets Debt ratio Average collection period Fixed asset turnover Return on equity