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Joseph Betio is a loan officer with the First Bank of Tennessee. Red Brick, Toc, a major producer of masonry products, has applied for a short-term loan, Hod tricksupolis bullona material throughout the southern states, with trick plants located in Tennessee, Alabama, Georgia, and Indiana The firm's income statement and balance sheet are givet below. The third table presents both a ratio analysis of Red Brick's previous year's financial statements and the mustry averages of the ratios W Red Brick Income Statement (for the period ending December 19/31/20X1) Sales $243,000,000 Cost of goods sold 126,000,000 Administrative expenses 23,000,000 Operating income $ 94,000,000 Interest expen 3,000,000 Taxes 400.000 Not income $ 85,000,000 Red Brick Balance Sheet as of 12/31/20X2 Assets Liabilities and Stockholders' Equity Cash 5 400,000 Accounts payable $41,000,000 Accounts receivable 28,000,000 Notes payable 15,000,000 Inventory 71,600,000 Long term debit 51,000,000 plant and equipment 133,000,000 Stockholders' equity 120,000,000 $ 23,000,000 $ 233,000,000 So werd wary was 49.000.000 Company's Ratios Industry (Previous Year) Average Current ratio 15.1 2.3:1 Quick ratio 0.51 0.001 Inventory turnover 6.9% 4.0x Average collection period 29 days 55 days Debt ratio (debt/totales) 314 429 Times interesteamed 118 3.6 Return on equity 70.00 14.2 Return on as 40.7 10:24 Operating profit margin 29.09 15.2 Net profit margin 27.1 3390 To he decide whether to grant then, compute the following ratlos and compare the results with the company's previous year ratios and industry averages. Assume there are 305 days in a year. Do not found intermediate calculations. Round your answers to two decimal places Current ratio of times is Select the industry average and Suled the ratio in the previous year. Quid ratio of times is select the industry average and Select the ratio in the previous year Inventory turnover ratio of is select the industry average and select the ratio in the previous year. Avere collection period of days is Select the industry average and select the ratio in the previous year Debt ratio of Select the industry average and select- the ratio in the previous year Times-interest earned ratio of the industry average and select the ratio in the previous year. Return on equity ratio of -Select the Industry average and select the ratio in the previous year Return on assets ratio of Sweet the industry average and select- the ratio in the previous year To help decide whether to grant the loan, compute the following ratios and compare the results with the company's previous year ratios and industry average Amar days in a year. Do not round Intermediate calculations, Round your answers to two decimal places Current ratio of times is Select the industry average and select the ratio in the previous year Quick ratio of times is higher than e industry average and select the ratio in the previous year. than Inventory turnover ratio of equat the industry average and select the ratio in the evious year Average collection period of days is Select the industry average and select the ratio in the previous year Debt ratio of 961 - Select the industry average and select the ratio in the previous year Times-interest-earned ratio of is Select the industry average and select the ratio in the previous year Return on equity ratio of Select the industry average and select the ratio in the previous year Return on assets ratio of % Select the industry average and Sect the ratio in the previous year Operating profit margin ratio of 56. -Select- the industry average and select the ratio in the previous year Net profit margin ratio of se is sect the industry average and select the ratio in the previous year