XYZ Corporation is a multinational technology company. The following data is extracted from its financial records for the year ended December 31, 2021:

Revenues: $3,500,000

Cost of Goods Sold: $1,900,000

Selling and Administrative Expenses: $800,000

Interest Expense: $50,000

Income Tax Expense: $125,000

Accounts Receivable: $300,000

Accounts Payable: $200,000

Inventory: $500,000

Long-term Debt: $1,000,000

Common Stock: $600,000

Retained Earnings: $1,400,000

Requirements:

Prepare a multiple-step income statement for XYZ Corporation for the year ended December 31, 2021.

Calculate the gross profit margin.

Determine the net profit margin.

Compute the return on assets (ROA) assuming total assets of $3,500,000.

Calculate the current ratio and quick ratio.