Question 2: (Each part- 4 Marks) (Total 20 Marks) Use the following balance sheet and income statement to calculate the financial ratios below: ABC Incoroprated Balance Sheet($000) Cash Accounts Receivable Inventory Total Current Assets Net Fixed Assets Total Assets 5,000 2,500 7,500 15,000 25,000 40,000 Accounts Payable Accrued Expenses Total Current Liabilities Long-Term Debt Owner's Equity Liabilities plus Equity 2,500 4,500 7,000 15,000 18,000 40,000 ABC Incoroprated Income Statement ($000) Net Sales (credit) Cost of Goods Sold Gross Profit Operating Expenses (inclu Net Operating Income Interest Expense Earnings Before Taxes Taxes (20%) Net Income 50,000 20,000 30,000 11,500 18,500 2,000 16,500 3,300 13,200 2-A: Using the income statement and balance sheet above calculate: A) Current Ratio B) Quick Ratio C) Inventory Turnover D) Average Collection Period (ACP) E) Net Profit Margin