Q3 B (20 Marks) Here are the simplified financial statements of Y Corp. from a recent year: INCOME STATEMENT (Figs in $ Mil.) Net Sales Cost of Goods Sold Other Expenses Depreciation Earning Before Interest & Taxes Interest Expenses Income Before Tax Taxes Net Income Dividend 13,194 4,060 4,049 2,518 2,566 685 1,882 570 1,311 856 year 89 Balance Sheet (Figs in $ Mil.) End of the Start of the year Cash & marketable Securities 158 Receivables 2,382 2,490 Inventories 187 238 Other Current Assets 867 932 Total Current Assets 3,524 3,818 Net Property & Plants Equipment 19,973 19,915 Other Long Term Assets 4,216 3,770 Total Assets 27,714 27,503 Liabilities & Shareholders Equity Payables 2,564 3,040 Shirt Term Debt 1,419 1.573 Other Current Liabilities 811 787 Total Current Liabilities 4,795 5,400 Long Term Debt & Leases 7,018 6.833 Payables 2,564 3,040 Shirt Term Debt 1,419 1,573 Other Current Liabilities 811 787 Total Current Liabilities 4,795 5,400 Long Term Debt & Leases 7,018 6,833 Other Long Term Liabilities 6,178 6,149 Share Holders Equity 9,724 9,120 Total Liabilities & Equity 27,714 27,503 Calculate the following financial ratios for both periods: Show definition, formula and calculation 1. Quick ratio 2. Inventory Turnover 3. Return on Equity