Seved Help Week 3: Homework 7 2821 Income Statement Net sales $1e, Bee Cost of goods sold (6,55e) Gross profit 3,450 Operating expenses (2,350 Interest expense (389 Income tax expense (320 Net Income 480 10 points eBook Comparative Balance Sheets Dec 31 2021 Assets Cash Accounts receivable Inventory Property, plant, and equipment (net) $780 70e sie be Be 55,360 34, see $1,760 $1.450 Liabilities and Shareholders' Equity Current liabilities Bonds payable Cont stock Retard earnings 856 Required: Calculate the following ratios for 2021. (Consider 365 days a year. Do not round intermediate ca round your final answers to 2 decimal places.) 1. Inventory turnover ratio 2. Serage din inventory WHE RE Homework LIILE CU CAPETE Income tax expense Net Income 320 480 $ Comparative Balance Sheets Dec 31 2821 2020 Assets Cash Accounts receivable Inventory Property, plant, and equipment (net) $ 700 700 980 3,888 $5,380 $ 600 500 700 3,188 $4,900 Tiabilities and Shareholders' Equity Current Habilities Bonds payable Common stock Retained earnings $1,700 1,900 700 1,000 $5,300 $1,450 1,980 700 850 $4,900 Required: Calculate the following ratios for 2021. (Consider 365 days a year. Do not found Intern answers to 2 decimal places.) days days 1. Inventory turnover ratio 2. Average days in inventory 3. Receivables turnover ratio 4. Average collection period 5 Asset turnover ratio 8. Profit margin on sales 7. Return on assets 8. Return on equity 9. Equity multiplier 10. Return on equity (using the DuPont framework) . 9. times