QUESTION FIVE (20 Points) (a) You have the 2020 income statement for Covid-19 pharmacology company. Net Sales $35,000,000 Cost of Goods sold 15,000,000 Gross Profit 20,000,000 Selling & administrative 1,000,000 expenses Depreciation 3.000.000 Operating Income (EBIT) 16,000,000 Interest Expense 2,500,000 Income before Taxes (EBT) 13,500,000 Taxes (40%) 5.40 Net Income 8.100,000 (b) Mohammed has notes payables of $500, long-term debt of $1,900, inventory of $900, total current assets of $5,000, accounts payables of $850, and accrued expenses of $600. 1. What is the current ratio? (3.33 Points) 2. What is the quick ratio? (3.33 Points) (c) a company has annual credit sales of 5,000,000 and its accounts receivable account is $500,000. Calculate the company's average collection period. (3.33 Points)