Question $1.$ Dana Company has the following financial statements. Use the data in the tables to answer the following questions:

Dana Company

Financial Position $($Balance Sheet$)$ as of $31$ Dec. $2021$

$($US Dollar$)$

Assets Liabilities & Equity

Cash $500,000$ Accounts payable $250,000$

Bank $250,000$ Notes payable $600,000$

Account Receivable $250,000$ Accruals $500,000$

Inventories $300,000$

Current Assets $1,300,000$ Current Liabilities $1,350,000$

Gross Fixed Asset $2,100,000$ Long$-$term debt $650,000$

Less: Depreciation. $200,000$

Net Fixed Asset $1,900,000$ Total Liabilities $2,000,000$

Common stock $250,000$

Preferred stock $850,000$

Retained earnings $100,000$

Total equity $1,200,000$

Total assets $3,200,000$ Total Liabilities & Equity $3,200,000$

Dana Company

Income Statement in $2021$

$($US Dollar$)$

Items Amount

Net Sales $2,100,000$

Cost of Goods Sold $($COGS$)(1,000,000)$

Other expenses $(280,000)$

Depreciation $(120,000)$

Total operating costs $(1,400,000)$

Earnings before Interest & Tax $($EBIT$)=700,000$

Interest expense $(100,000)$

Earnings before Tax $($EBT$)=600,000$

Taxes expense $(10\%)(60,000)$

Net income $540,000$

Calculate the following ratios:

$1.$ Current Ratio $($CR$)$

$2.$ Inventory Turnover $($ITO$)$ and Days in Inventory

$3.$ Profit Magin

$4.$ Return on Assets $($ROA$)$

$5.$ Debt to Assets Ratio

$6.$ Times Interest Earned

$1.$ Current Ratio $=$

$2.$ Inventory Turnover $=$

Days in Inventory $=$