WK 4 - Apply: Summative Assessment... Saved Help Save & Exit Submit Financial statements for Askew Industries for 2021 are shown below (in thousands): 3 2021 Income Statement Net sales $ 8,900 Cost of goods sold (6, 125) Gross profit 2,775 Operating expenses (1,925) Interest expense (130) Income tax expense (288) Net income $ 432 33.34 points eBook References Comparative Balance Sheets Dec. 31 2021 2020 Assets Cash Accounts receivable Inventory Property, plant, and equipment (net) $ 530 530 730 1,300 $3,090 $ 430 330 530 1,400 $2,690 Liabilities and Shareholders' Equity Current liabilities Bonds payable Common stock Retained earnings $ 680 1,050 530 830 $3,090 $ 430 1,050 530 680 $2,690 Required: Calculate the following ratios for 2021. (Consider 365 days a year. Do not round intermediate calculations and round your final answers to 2 decimal places.) Wk 4 - Apply: Summative Assessment... Saved Help Save & Exit Submit HULUUIILTELEIVON LE Inventory Property, plant, and equipment (net) 3 730 1,300 $3,090 530 1,400 $2,690 Liabilities and Shareholders' Equity Current liabilities Bonds payable Common stock Retained earnings $ 680 1,050 530 830 $3,090 $ 430 1,050 530 680 $2,690 33.34 points eBook Required: Calculate the following ratios for 2021. (Consider 365 days a year. Do not round intermediate calculations and round your final answers to 2 decimal places.) References days days 1. Inventory turnover ratio 2. Average days in inventory 3. Receivables turnover ratio 4. Average collection period 5. Asset turnover ratio 6. Profit margin on sales 7. Return on assets 8. Return on equity 9. Equity multiplier 10. Return on equity (using the DuPont framework) % % % times %