a. Using the given data, calculate items 1 through 8 below for 2016. Compare the performance of Packard Plastics, Inc., with the following industry averages and comment on its operations.Round to two decimal points.

Median Ratios for

Manufacturers of Plastic and

Synthetic Products

Ratios for

Packard Plastics1. Quick ratio:1.2Answer

2. Current ratio:1.9Answer

3. Accounts Receivable Turnover:7.9Answer

4. Inventory turnover:7.8Answer

5. Debt-to-equity ratio:0.95Answer

6. Gross profit percentage32.7%Answer

%7. Return on sales3.5%Answer

%8. Return on assets:6.3%Answer

%