Use the following information to answer the questions below: note: all sales are credit sales 2018 1,000,000 400,000 $ 600,000 Income Stimt Info: Saless less Cost of Goods Sold 2 Gross Profit Operating Expenses before interest & Taxes Interest exp eamings Before Taxes Taxes Net Incomes 350,000 250,000 20,000 230,000 69,000 161200S 2019 1,050,000 432.000 618,000 365,750 252250 204005 231 850 69,555 162,295 Balance Sheet Inte: Cash Accounts Receivable Inventory Total Current Assets Fixed Assets (Net) Total Assets 12/31/18 25,000 $ 50,000 $ 125,000 $ 200,000 $ 300,000 $ 500,000 $ 12/31/19 30,000 54,000 130,000 214,000 318,000 532,000 Current Liabilities Long Term Liabilities Totat Liabilities Stockholders Equity Total Liab & Equity: 110,000 $ 180,000 $ 290,000 $ 210,000 $ 500,000 $ 119,900 175,000 294,900 237,100 532,000 Compute each of the following ratios for 2018 and 2019 and indicate whether each ratio was getting "better" or "worse" from 2018 to 2019 Sand was "good" or "bad" compared to the industry Avg in 2019 fround all numbers to 2 digits past the decimal place) Getting Better or Getting 2019 Worser Worse? wuuuu "Bad" compared to Industry Avg 2019 industr y Avg 2018 0.11 Profil Margin Current Ratio Qack Ratio Return on Assets Debt to Assets Receivables turnover Avg. collection period laventory Turnover** Return on Equity Times Interest Farned 13.20 Assume a 360 day year Inventory Turnover can be computed 2 different ways. Use the formula listed in the text (the one the text indicates many credit reporting agencies generally use) Sheets Sheet1 Sheet2 Ihr References: G50