The financial statements for Armstrong and Blair companies are summarized here: Armstrong Company Blair Company Balance Sheet Cash Accounts Receivable, Net Inventory Equipment, Net Other Assets Total Assets Current Liabilities Notes Payable (long-term) Total Liabilities Common Stock (par $10) Additional Paid-in Capital Retained Earnings Total Liabilities and Stockholders' Equity Income Statement Sales Revenue Cost of Goods Sold Other Expenses Net Income Other Data Estimated value of each share at end of year Selected Data from Previous Year Accounts Receivable, Net Inventory Equipment, Net Notes Payable (long-term) Total Stockholders' Equity $ 36,000 41,000 102,000 182,000 46,000 $ 407,000 $ 102,000 62,000 164,000 151,000 31,000 61,000 $ 407.000 $ 23,000 31,000 42,008 302,000 409,000 $ 807,000 $ 52,000 372,800 424,000 201,000 111,000 71,000 $ 807,00 $ 453,000 246,000 161,000 $ 46,000 $ 813,000 406,000 316,000 $ 91,000 $ 19 $ 26 $ 21,000 93,000 182,000 62,000 232,000 $ 39,000 46,000 302,000 71,800 441,690 Required: 1. Calculate the following ratios. TIP: To calculate EPS, use the balance in Common Stock to determine the number of shares outstanding. Common Stock equals the par value per share times the number of shares. (Use 365 days in a year. Do not round intermediate calculations and round your final answers to 2 decimal places.) Armstrong Company Blair Company % % % Ratio Tests of Profitability 1. Net Profit Margin 2. Gross Profit Percentage 3. Fixed Asset Turnover 4. Return on Equity 5. Earnings per Share 6. Price/Earnings Ratio Tests of Liquidity 7. Receivables Turnover 7. Days to Collect 8. Inventory Turnover 8. Days to Sell 9. Current Ratio Tests of Solvency 10. Debt-to-Assets