The following is the balance sheet and income statement for Aquinas Inc. Assets Current Assets Cash and equivalents Average receivables Average daily Inventories Aquinas Inc. Balance Sheet (Numbers are in millions) Liabilities and shareholder's equity Current liabilities $ 325 Accounts Payable 800 Short-term debt 1100 Total current liabilities $2225 Long term debt $1550 Shareholders Equity $3775 Total liabilities and shareholder's equity Aquinas Inc. Income Statement (Numbers are in millions) $1375 675 $2050 $925 $800 $3775 Total current assets Fixed Assets Total Assets Sales Cost of goods sold Gross Profit Operating expenses Earnings before interest and taxes Interest expense Earnings before taxes Taxes Earnings after taxes 1. What is the value in Aquinas producing the two financial statements above? (4 marks) 2. Determine the: a. Liquidity ratio (2 marks) b. Financial leverage ratios (4 marks) C. Efficiency ratios (6 marks) d. Profitability ratios (6 marks) $4255 $3000 $1255 $900 $355 230 $125 16 $109