Problem 4-12 Calculating activity and profitability ratios [LO4-10] Financial statements for Askew Industries for 2018 are shown below (n $000's): 2018 Income Statement 8,900 Sales Cost of goods sold Gross profit Operating expenses Interest expense Tax expense (6,275) 2,625 (1,975) (190) (184) Net income $ 276 Comparative Balance Sheets Dec. 31 2018 2017 Assets Cash 590 490 390 590 1,9002,000 Accounts receivable Inventory Property, plant, and equipment (net) 590 790 $3,870 $3,470 Liabilities and Shareholders Equity Current liabilities Bonds payable Paid-in capital Retained earnings $1,040 790 1,350 1,350 590 740 590 890 $3,870 $3,470 Bonds payable Paid-in capital Retained earnings 1,350 1,350 590 740 590 $3,870 $3,470 Required: Calculate the following ratios for 2018. (Consider 365 days a year. Do not round intermediate calculations and round your final answers to 2 decimal places.) 1. Inventory turnover ratio days 2. Average days in inventory 3. Receivables turnover ratio days 4. Average collection period 5. Asset turnover ratio 6. Profit margin on sales 7. Return on assets 8. Return on shareholders equity times 9. Equity multipier 10.Return on shareholders' equity (using the DuPont framework)