The balance sheet and income statement for Covid19 Bhd is presented below.

BALANCE SHEET (000)

Cash $ 500

Accounts receivable 1,500

Inventories 500

Current assets 2,500

Net fixed assets 5,000

Total Assets $ 7,500

Accounts payable 1,200

Bank note 300

Total current liabilities 1,500

Long term debt 4,000

Common stock 300

Retained earnings 1,700

Total liabilities and owner's equity $ 7,500

INCOME STATEMENT (000)

Net sales $ 8,500

Cost of goods sold (3,400)

Gross profit 5,100

Operating expenses (2,900)

Net operating income 2,200

Interest expense (580)

Earnings before taxes 1,620

Income tax (34%) (551)

Net income $ 1,069

Answer the following questions:

1. Compute the following ratios: Current ratio, Acid test ratio, Debt ratio, Total asset turnover, Operating profit margin, Net profit margin, Times interest earned, Inventory turnover.
2. All other things equal, compute the dollar amount of sales needed to achieve an 18% return on total assets for the coming year.