Use the following current year financial statements for Abbee Aviation to perform ratio analysis.

Abbee Aviation Income Statement

Revenue $4,400,000

Cost of goods sold 2,300,000

Gross profit 2,100,000

Operating expenses750,000

Operating income (EBIT) 1,350,000

Interest expense270,000

Earnings before taxes 1,080,000

Taxes (at 40%)432,000

Net income648,000

Abbee Aviation Balance Sheet

Current assets

Cash $2,780,000

Accountsreceivable670,000

Inventory750,000

Total current assets 4,200,000

Non-current assets Fixed assets 5,200,000

Accumulated depreciation (2,400,000)

Net fixed assets2,800,000

Total assets$7,000,000

Current liabilities Accounts payable 890,000

Accrued liabilities560,000

Total current liabilities 1,450,000

Non-current liabilities Bonds payable3,000,000

Total liabilities 4,450,000

Shareholders' equity Common stock 550,000

Retained earnings2,000,000

Total shareholders' equity2,550,000

Total liabilities and shareholders' equity$7,000,000

(a) Calculate the firms operating return on assets. Assume that the firms year-end total assets balance for the prior year was $6 million.

(b) Calculate the firms net working capital

(c) What is the number of accounts receivable days for Abbee Aviation? Assume that the firms year-end accounts receivable balance for the prior year was $650,000.

(d) What is the firms return on assets at the end of this year? Assume that the firms year-end total assets balance for the prior year was $6 million.