Use the information to answer the quiz questions.

ABC Corporation

Selected Financial Statement Information for the Year Ended December 31

(In millions except per share data)

Income statement (Period 20x1)

Sales	$8,500
Cost of Goods Sold	-6,800
Gross Profit	1,700
General & admin. expenses	-200
Depreciation expense	-500
Interest expense	-150
Income before tax	850
Tax expense	-310
Net income	540
Earnings per share	$2.84

Balance Sheet

	20x 1 Beginning	20x 1 Ending
Assets
Cash	360	380
Marketable Securities	300	100
Receivables	1,100	130
Inventories	600	910
Other	1,900	660
Total Current Assets	4,260	2,180
Property, Plant, and Equipment	5,230	3,400
Other assets	2,300	1,000
Total Assets	$11,790	$6,580
Liabilities and Shareholder’s Equity
Accounts Payable	2,800	1,300
Long-Term Debt	2,400	900
Other Liabilities	1,500	1,400
Total Liabilities	6,700	3,600
8% Preferred Stock	500	500
Common Stock	2,000	1,800
Retained Earnings	2,590	680
Total Liabilities & Shareholder’s Equity	$11,790	$6,580

Required

Calculate the current ratio 

Calculate  inventory turnover at year’s end 

Calculate gross profit margin on sales 

Calculate the return on equity 

Calculate the debt to asset ratio

Calculate the return on equity using the DuPont system