Problem 3 - 20 Points SHOW YOUR WORK Given the following Information on ABC Corp, calculate the ratios below ABC Corp. Year end statements Balance Sheet 12/31/21 Balance Sheet 12/31/20 ASSETS 2021 LIABILITIES 2020 ASSETS 2021 LIABILITIES 2020 Cash 3 3,500,000 Accounts Payable 1,600,000 Cash 4,100,000 Accounts Payable 2,000,000 Accounts Recievable 2,000,000 Current portion of LTD 900,000 Accounts Reeievable 2,500,000 Current portion of LTD 1,000,000 Inventory 3,500,000 Accrued Liabilities 1,000,000 Inventory 3,200,000 Accrued Liabilities 800,000 7 Total Current Assets 9,0 000 Total Current Liabilities 3,500,000 Total Current Assets Total Current Liabilities ' 3,800,000 Property Plant 5; Equipment, net 8,000,000 Long Term Debt (LTD) 9,000,000 Property Plant & Equipment, net 7,000,000 Long Term Debt (LTD) 9,000,000 Other Assets 2,000,000 Shareholders Equity 6,500,000 Other Asses 2,000,000 shareholder's Equity 6,000,000 Total Assem S 19,000,000 Total Liabilities & Equity 19,000,000 Total Assets S 18,800,000 Total Liabilities & Equity $ 18,800,000 Income Statement FY 12/31 2021 Answers go in the yellow boxes. Please record answers to 2 decimal places. Revenue $ 15,000,000 Do Not enter anything in the columns below this row Cost of Goods Sold 7,000,000 Current ratio 12/31/21 I 2 Gross Prot 8,000,000 Accounts Receivable Turnover (2021) 2 Total Asset Turnover (2021) 2 Selling General & Admin 3,450,000 Inventory Turnover (2021) 2 Research and Development 1,500,000 Debt to Equity 12/31/21 2 Depreciation and Amortization 1,000,000 Cash Turnover (2021) 2 Total Operating expenses 5,950,000 Days revenue in Cash (2021) 2 Days Inventory (2021) 2 Operating Prot 2,050,000 Return on Assets (2021) 2 Return on Equity (2021) 2 Interest Income 100,000 Interest Expense 700,000 20 Pre tax Prot 1,450,000 Tax (@21%) 304,500 Net income $ 1,145,500 \\