For Part A, can I please get a step by step in order to better understand the calculations being utilized. For Part B, if posssible, please provide a complete explanation for both parts of the question.

Thank you.

MA-17 Measures of Performance and Financial Leverage Following are selected dataq from year-end financial statements of Lima Corporation for 2017 and 2016 2017 2016 $4,420,000.00 $3,930,000.00 Total assets Interest expense 69,000.00 61,000.00 Long-term liabilities$ 832,000.00 $ 845,000.00 Net income Sales Stockholgers' equity $2,428,750.00 $2,100,000.00 452,875.00411,900.00 $5,218,750.00 $4,454,700.00 Required 1- Compute the following performance measurements ratios for 2017. A. Asset Turnover B. Return on Sales C. Return on Assets D. Return on Equity 2. Is Lima Company using financial leverage? If so, is the leverage favorable or unfavorable? Explain MA-17 Measures of Performance and Financial Leverage Following are selected dataq from year-end financial statements of Lima Corporation for 2017 and 2016 2017 2016 $4,420,000.00 $3,930,000.00 Total assets Interest expense 69,000.00 61,000.00 Long-term liabilities$ 832,000.00 $ 845,000.00 Net income Sales Stockholgers' equity $2,428,750.00 $2,100,000.00 452,875.00411,900.00 $5,218,750.00 $4,454,700.00 Required 1- Compute the following performance measurements ratios for 2017. A. Asset Turnover B. Return on Sales C. Return on Assets D. Return on Equity 2. Is Lima Company using financial leverage? If so, is the leverage favorable or unfavorable? Explain