The Haines Corporation shows the following financial data for 20X1 and 20X2: 20X1 20X2 Sales $ 3,480,900 $ 3,140,090 Cost of goods sold 2,530,090 2, 260, 000 Gross profit $ 950, 090 $ 880,090 Selling & administrative expense 255,090 261, 090 Operating profit $ 695,090 $ 619, 090 Interest expense 44 , 800 49, 709 Income before taxes $ 650, 200 $ 569, 300 Taxes (35%) 227,570 199, 255 Income after taxes $ 422,630 $ 370, 045 For each year, compute the following ratios and indicate how the change in each ratio will affect profitability in 20X2. Note: Input your answers as a percent rounded to 2 decimal places. 20X1 20X2 Profitability a. Cost of goods sold to sales % b. Selling and administrative expense to sales C. Interest expense to salesView previous attempt Check my wo Easter Egg and Poultry Company has $1,710,000 in assets and $645,000 of debt. It reports net income of $177,000. a. What is the firm's return on assets? Note: Enter your answer as a percent rounded to 2 decimal places. Return on assets % b. What is its return on stockholders' equity? Note: Enter your answer as a percent rounded to 2 decimal places. Return on equity % c. If the firm has an asset turnover ratio of 2.5 times, what is the profit margin (return on sales)? Note: Enter your answer as a percent rounded to 2 decimal places. Profit margin %Jim Short's Company makes clothing for schools. Sales in 20X1 were $4,280,000. Assets were as follows: Cash $ 190,090 Accounts receivable 810,009 Inventory 491, 090 Net plant and equipment 589,090 Total assets $ 2,080,009 a. Compute the following: Note: Round your answers to 2 decimal places. Turnover Ratios 1. Accounts receivable turnover times 2. Inventory turnover times 3. Fixed asset turnover times 4. Total asset turnover timesb. In 20X2, sales increased to $5,920,000 and the assets for that year were as follows: Cash $ 190, 090 Accounts receivable 901, 090 Inventory 1, 027, 090 Net plant and equipment 589, 090 Total assets $ 2,707, 090 Compute the following: Note: Round your answers to 2 decimal places. Turnover Ratios 1. Accounts receivable turnover times 2. Inventory turnover times 3. Fixed asset turnover times 4. Total asset turnover timesc. IS there on improvement or a decline in the total asset turnover? C' Improvement D Decline