Use the financial statements of Heifer Sports Inc. in Table 19A to find the following information for Heifer's: Cash Income Statement 2017 Sales $5,500,000 Cost of goods sold 2,850,000 Depreciation 280.000 Selling and administrative expenses 1,500,000 EBIT $ 870,000 Interest expense 130,000 Taxable income $ 740,000 Taxes 330,000 Net income $ 410.000 Balance Sheet. Year-End 2017 2016 Assets $ 50,000 $ 40,000 Accounts receivable 660,000 690,000 Inventory 490,000 480 000 Total current assets $1,200,000 $1,210.000 Fixed assets 3.100.000 2,800,000 Total assets $4,300,000 $4.010.000 Liabilities and shareholders' equity Accounts payable $ 340.000 $ 450.000 Short-term debt 480,000 550.000 Total current liabilities $ 820,000 $1,000,000 Long-term bonds 2.520,000 2.200.000 Total liabilities $3,340.000 $3,200,000 Common stock $ 310,000 $ 310,000 Retained earnings 650.000 500.000 Total shareholders' equity $ 960.000 $ 810,000 Total liabilities and shareholders' equity 54,300,000 $4,010,000 1) Inventory turnover ratio in 2017. 2) Debt/equity ratio in 2017. 3) Cash flow from operating activities in 2017. (See example problem) 4) Interest coverage ratio. 5) Operating profit margin. 6) Return on equity. 7) P/E ratio