Question 3: (5 marks) 2 Selected information from the comparative financial statements of Dubai Company for the year ended December 31, appears below: 2018 2017 Accounts receivable (net) $ 90,000 $100,000 Inventory 70,000 80,000 Total assets 600,000 400,000 Current liabilities 70,000 55,000 Long-term debt 200,000 150,000 Net credit sales 855,000 350,000 Cost of goods sold 525,000 265,000 Interest expense 25,000 12,500 Income tax expense 30,000 14,500 Net income 60,000 42,500 Instructions: Answer the following questions relating to the year ended December 31, 2018 1. Inventory turnover for 2018 is 2. Times interest earned in 2018 is 3. The debt to total assets ratio for 2018 is 4. Receivables turnover for 2018 is 5. Return on assets for 2018 is Question 5: (10 marks) Abu Dhabi manufacturer has supplied the following data: Boxes of tiles produced and sold Sales revenue.. Variable manufacturing expense. Fixed manufacturing expense Variable selling and administrative expense.. Fixed selling and administrative expense Net operating income 520,000 $2,132,000 $650,000 $464,000 $260,000 $312.000 $446,000 (a) What is the company's unit contribution margin? Show the workings (3 marks) Answer: (b) Calculate the company's contribution margin ratio: (3 marks) Answer: (c) If the company increases its unit sales volume by 3% without increasing its fixed expenses, then total net operating income should be closest to: show workings (4 marks)