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Ch 09: End-of-Chapter Problems-Analysis of Financial Statements with the First Bark of Tennessee. Red Brick, Inc., a major producer of masonry products, has applied for a short-term loan. Red Brick supplies building material Joseph Berio is a loan officer throughout the southern states, with brick plants located in Tennessee, Alsbeama, Georgia, and Indiane The firm's income statement and balance sheet are given below. The third table presents both a ratio analysis of Red Brick's previous year's financial statements and the industry averages of Red Brick Income Statement Sales Cost of goods seld Administrative expenses Operating income Interest experise Taxes Net income (for the period ending December 12/31/20x1) s 177,000,000 190,000,000 23,000,000 -36,000,000 15,000,000 200,000 $-51,200,000 Red Brick Dalance Sheet as of 12/31/20x2 Liabilities and Stockholders Equity Assets Cash Accounts receivabie Inventory Plant and equipet 800,000 Accounts bayales40,000,000 33.000,000Notes payable 72,800,000 Long term debt 128,000,000 Stocknoiders R 7000,000 uity 144,600,000 234,600,00 s 234,600,00o Ch 09 End-of-Chapter Problems-Analysis of Financial Statements Company's Ratios Industry (Previous Year) Average Current ratio Quick ratio Inventory burnover Average collection period Debt ratio (debit/total essets) 2.3:1 0.7:1 0.9 s0 days o days 29% 2.4 -39.4% 39% 3.7 Return on equity Return on assets Operating profnit margin Net proft margin 0.4% ,24,1% 156% 14, 15.2% 22.3% 5.0% Te helo decide whether to grant the loan, compute the foliowing ratios and compare the results with the compeny's previous year ratios and industry averages. Assume there are 36s days in a year, De not round intermediate calculations Round your answers to two deomal places Current ratiso of tes is ed the industry average and Quick ratio of omes is the industry averoge ane the ano in the pavious ar lle the rate in the previous ear Inventory turnover ratio of Average collection period of 1 Debt ratio of Times-interest-earned ratio of s Seiect the industry averape and ti theratio in the arevious vear days s ond the industry averoge and Seet the ratsi in che pravious year % is: select the industry average and let , the ratio in the: previous year. is "Soet.-M) the industry average and I -5esett: . | the ratin the previous year Ch 09: End-of-Chapter Problems - Analysis of Financial Statements Net profit margin -22.3% 9.0% To help decide whether to grant the loan, compute the following ratios and compare the results with the company's previous year ratios and industry averages. Assume there are 365 days in a year. Do not round intermediate calculations. Round your answers to two decimal places Current ratio of Quick ratio of Inventory turnover ratio ofSelect the industry aversge and -e)the ratio in the previous year Average collection period of Debt ratio of times is -Seiect times is Select the industry average and selectithe rato in the previous year the industry average and Seled: the ratio in the previous year. days is Select: the industry average andSelcthe ratio in the previous year % is (Select--3 the industry average and ( -Select. the ratio in the previous year is Selectthe Industry average andSec ] the industry average and ...-Select industry average and Select the ratio in the previous year ) the ratio n tte previous year a the ratio in the previous year Return on equity ratio of Return on assets ratio of Operating profit margin ratio of Net profit margin ratio of % is | -Select: .. .J | % is ( -Select. the industry average and [de-d ttbe fatto in the previous year % is -select ) the industry average and wech t thc ratio in the previous year. 1%is Sleet.. the ndustry average andteet.. the ratio in the