The balance sheet and income statement for Angel Eyes Chip Company are to the right. Use the information given in the financial

statements to calculate the ratios below. Be sure to put each ratio in its proper format $($i$.$e$.1\mathrm{.}23x$;$1\mathrm{.}23\%$; or $1\mathrm{.}23$ days$)$ in order

to receive full credit.

a$)$ Current assets$/$Current liabilities

b$)$ Days sales outstanding $(365$ day year$)$

c$)$ COGS$/$Inventory

d$)$ Sales$/$Fixed assets

e$)$ Sales$/$Total assets

f$)$ Net income$/$Sales

g$)$ Net income$/$Total assets

h$)$ Net income$/$Common equity

i$)$ Total debt$/$Total assets

j$)$ Total liabilities$/$Total assets

Extra Credit Opportunity!

Copied in the table below is the industry average for the ratios you calculated for Angel Eyes.

Outline Angel Eyes' strengths and weaknesses compared to the industry averages. To earn all $10$ extra credit points, tell me

whether each calculated ratio reveals a strength or a weakness compared to the industry average.

Angel Eyes Chip Company: Income Statement for year ended Dec. $31,2019($in thousands$)$

Sales

Cost of goods sold

Other expenses $($selling$,$ general, administrative, etc.$)$

Earnings before interest and taxes $($EBIT$)$

Interest expense

Earnings before taxes $($EBT$)$

Federal and state income taxes $(25\%)$

Net income