sessment/take/secured.jspwlockdown JESTION 1 firm has $2 900,000 in assets. The firm is financed with 55% debt and 45% equity. The interest rate on the firm's debt is 8%. The firm's tax rate is 40% The firm has 54,500,000 in sales revenue Cost of goods sold (COGS) is $3,300,000 Depreciation is $185,000 2. Construct the firm's income statement ales Cost of goods sold Depreciation amnings before interest and taxes Interest amnings before taxes Taxes et income umber of shares outstanding 1,000,000 Price per share: 552.00 Balance Sheet Cash $165,000 Accounts rec 340,000 Inventory 262.000 otal current assets 767,000 Accounts payable Notes payable Total current Liabilities Long-term debt Total debt Common stock Retained earnings Total Common Equity Total liabilities & Equity $300.000 337 350 $637 350 957 650 1.595,000 1.198,550 106 450 1,305,000 $2.900.000 Fixed assets 2.133.000 Total assets $2.900.000 b. Calculate the following rabos for the firm using the income statement from porta and the balance sheet above. Compare the ratio to the industry averages Indicate whether the firm is in a better or worse position than the industry. 28 days Ratio Industry Firm Comment (The firm is... Current Ratio 1 60 Days Sales in Inventory Total Asset Turnover 1.62 Debt Ratio TIE Ratio 10.40 Profit Margin 10.6% PIE Ratio 9650 c. Use the Dupont identity to calculate ROE for the firm and the industry. Explain why the fim is performing better for worse than the industry 60% TT T Arial (12pt)