QUESTION 1 Refer to the financial statements below and note that the average days sales outstanding (DSC) ratio for firms in Chema Corp.'s industry is 18.53. Chema Corp.'s DSO of in 2016 indicates that the firm is to collect on sales than the average firm in the industry. CHEMA CORP 2016 Income Statement Cost of good soul Deprecation Es before terest in taxes Interest and Tableco Taxes (347) $ 87,480 56820 3217 5 2744 2064 25379 8629 $16.750 CHEMA CORP Babce Sheets of December 31, 2016 Assets LabdON Equity Current $ 2733 Accounts payable 3730 Notes paraule 10970 Other 517533 Total Cuent Asset Cach Accounts recente Lursery Total FA 5190 $3.30 13 Current Asset Cach Accounts receivable Inventory Total Fred Assets Net plant and get CHEMA CORP Balance Sheets of December 31, 2016 Assets Liabilities and Owner's Equity Current Labs $ 2,783 Accos payable $ 2.190 3,780 Notes payable 1438 10970 Other 179 $ 17,533 Total $8.50 Long-ten dute 130 413 Owoer's Common stock and pads $ 25.000 Rewards 16.09 Total 5.41.200 $ 58,856 Total 5 58 856 13.30: slower 15.77: slower 13.30: Quicker 15.77: quicker 20.33: quicker