Ratio Formulae Click to view the Ratio Formulae Question 1 (12 points) Some elements of the income statement and the balance sheet of Freeman Inc. are presented below in thousand of dollars). Please show all calculations. Round to one decimal point. Required: Calculate the following for 2020: 1. Accounts receivable turnover (express in days) 2. Inventory turnover (express in days) 3. Gross profit margin (%) 4. Operating profit margin (%) 5. Total asset turnover 6. Times interest earned Sales Cost of goods sold EBIT Accounts receivable, net Total assets Inventory Interest expense Taxes 2020 6,500 5,200 415 425 3,915 525 60 105 2019 6,200 5,075 295 150 2,940 360 65 75