Use the financial statements of Heifer Sports Inc. to find the information below for Heifer. (Use 365 days a year. Round all answers to 2 decimal places except $ amounts.) Income Statement Sales Cost of goods sold Depreciation Selling & admin. expenses EBIT Interest expense Taxable income Taxes 2017 $ 5,750,000 3,036,000 301,400 1,614,000 $ 798,600 173,000 $ 625,600 284,500 $ 341,100 Net income 2017 2016 Balance Sheet, Year-End Assets Cash Accounts receivable Inventory Total current assets Fixed assets Total assets Liabilities and Stockholders' Equity Accounts payable Short-term debt Total current liabilities Long-term bonds Total liabilities $ 41,600 592,000 439,600 $ 1,073,200 2,827,000 $ 3,900,200 $ 90,000 1,561,400 1,086,100 $ 2,737,500 6,410,000 $ 9, 147,500 $ 313,300 501,000 $ 814,300 1,783,800 $ 2,598,100 $ 312,500 989,600 $ 1,302,100 $ 3,900,200 $ 1,110,000 1,364,200 $ 2,474,200 5,452,300 $ 7,926,500 $ 312,500 908,500 $ 1,221,000 $ 9,147,500 Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity X Answer is complete but not entirely correct. a. 3.98 b. 1.99 Inventory turnover ratio in 2017 Debt/equity ratio in 2017 Cash flow from operating activities in 2017 Average collection period C. $ 3,918,300 X d. 68.35 days e. Asset turnover ratio 0.88 f. 4.62 g. 13.89 % . h. Interest coverage ratio Operating profit margin Return on equity Compound leverage ratio Net cash provided by operating activities 27.04 % j. 4.05 k. $ 598,500 X