XYZ Corporation Income Statement Revenue 2020 Sales revenue 21,200,000 Stock purchased 6,500,000 Transportation of goods to the store 80,000 Gross Profit 14,620,000 Expenses Advertising Bad debt Depreciation 52,000 150,000 500,000 Wages and benefits 2,400,000 Insurance 120,000 Bank Interest 15,000 Maintenance and repairs 890,000 Office supplies 750,000 Rent 1,500,000 Utilities Other Total Expenses 650,000 473,000 7,500,000 Net Profit 7,120,000 Corporation Tax (25%) 1,780,000 Net Income 5,340,000 5. (Compulsory) Refer to XYZ Financial Statements enclosed. You are required to calculate: a. Debt to asset ratio b. Inventory turnover ratio c. Gross profit margin In addition, you are to explain what each ratio means and whether each signifies a positive or negative position for the (20 marks) entity