Question 2: Based on previous statements for New Firm Inc. calculate the following ratios: quick ratio, Current Ratio, inventory turnover, days of sales outstanding, Debt-to-Assets, Return on assets and Return on Equity ?!

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NEW FIRM, Inc., Balance Sheet 12/31/2019 ASSETS Cash Accounts Receivable Inventory Plant and equipment Less: accumulated depreciation Total assets 2019 $125 375 550 2,750 (1,200) $2,600 LIABILITIES AND OWNERS' EQUITY Accounts payable Notes payable--current (9%) Long-term debt Common stock Paid-in capital Retained earnings Total liabilities and owners' equity 2016 $150 150 600 300 600 800 2,600 NEW FIRM, Inc., Income Statement 12/31/2019 2019 1,450 850 600 40 Sales Cost of goods sold Gross profit Operating expenses Depreciation Net operating income Interest expense Net income before taxes Taxes (40%) Net income 200 360 64 296 118 178