Use these financial statements for a manufacturing company to answer the following questions. Use the effective tax rate for tax effects and assume cash is 75% operating assets and 25% financing assets. Round all answers to two decimal places and input percentages as decimals, e.g. 35% as 0.35. Income statement 2020 Balance sheet 12/31/19 Sales 850 Cash 275 (300) Inventory 130 Cost of goods sold SG&A expense Interest income 100 (120) 10 Accounts receivable PP&E 770 Interest expense (25) (111) 304 Income tax expense Accounts payable Notes payable Owner's Equity (225) (350) Net income 700 Question 7 1 pts Using the class data set, calculate asset turnover (ATO) using revt" as the top line sales (or revenue) and assume that all assets are operating assets and all liabilities except for accounts payable "ap" are financing liabilities. Use gvkey and permno together as the unique company id. Remove any observations that do not have a calculated ATO using this approach. At this point, what is the 75th percentile of the ATO distribution for the full data set? Use these financial statements for a manufacturing company to answer the following questions. Use the effective tax rate for tax effects and assume cash is 75% operating assets and 25% financing assets. Round all answers to two decimal places and input percentages as decimals, e.g. 35% as 0.35. Income statement 2020 Balance sheet 12/31/19 Sales 850 Cash 275 (300) Inventory 130 Cost of goods sold SG&A expense Interest income 100 (120) 10 Accounts receivable PP&E 770 Interest expense (25) (111) 304 Income tax expense Accounts payable Notes payable Owner's Equity (225) (350) Net income 700 Question 7 1 pts Using the class data set, calculate asset turnover (ATO) using revt" as the top line sales (or revenue) and assume that all assets are operating assets and all liabilities except for accounts payable "ap" are financing liabilities. Use gvkey and permno together as the unique company id. Remove any observations that do not have a calculated ATO using this approach. At this point, what is the 75th percentile of the ATO distribution for the full data set