The following selected information from the comparative financial statements of Elly Company for the year ended December 31: Year 2 Year 1 Accounts Receivable (net) P175,000 P200,000 Inventory 130,000 150,000 Total Assets 1,100,000 800,000 Current Liabilities 140,000 110,000 Long-term debt 410,000 300,000 Net credit sales 800,000 700,000 Cost of goods sold 600,000 530,000 Interest expense 40,000 25,000 Income tax expense 60,000 29,000 Net Income 150,000 85,000 Instructions: Answer the following questions relating to the year ended December 31, year 2. Show computations. 1. The inventory turnover ratio for Year 2 is _________________. 2. The number of times interest earned ratio in Year 2 is ________________. 3. The receivables turnover ratio for Year 2 is ______________. 4. The return on assets ratio for Year 2 is _______________.