Q6. Modified problem 2.4 from page 52 of the textbook, which now reads: The balance sheet in Table P2.4 summarizes the financial conditions for Flex Inc., an electronic outsourcing contractor, for fiscal-years 2016 and 2017. Flex has reported a profit for several years running. Compute the following ratios for both years and compare Flex Inc.'s performance: times-interest-earned, quick ratio, days sales outstanding, profit margin on sales and price-to-earnings ratio Assume a stock price of US$65 per share. Note that the financial statement entries in this problem are incomplete. Only relevant entries are listed. Do not attempt to add individual entries to confirm either current assets or current liabilities.'" Table P2.4: Balance Sheet for Flex Inc Aug.2017 U.S. S (000) U.S. S(000) Aug.2016 12 mos Year Balance Sheet (Summary.) Cash Securities Receivables Inventory Current assets Property and equipment, net Depreciation Total assets Current liabilities Bonds Common stock Other stockholder's equity Total liabilities and equity 1,325,637 362,769 1,123,901 1,080,083 3,994,084 1,186,885 533,311 4,834,696 1,113,186 922,653 271 2,792,820 4,834,696 225,228 83,576 674,193 788,519 1,887,558 859,831 -411,792 2,410,568 840,834 385,519 1,181.209 2,410,568 Income Statement (Summary) Total revenues Cost of sales Other expenses Loss provision Interest expense Income pre-tax Income tax Net Income EPS Primary 8,391,409 7,614,589 335,808 2,143 36,479 432,342 138,407 293,935 $1.19 5,288,294 4,749,988 237,063 2,254 24,759 298,983 100,159 198,159 $1.72