Question VI {16 marks) Given the following information from the current financial statements of Umbrella Corp. Umbrella Corp Income Statement For the year ended December 31, 2021 $1.450,000 1050.000 5400,000 Sales (all on credit) Cost of goods sold Gross profil Operating expenses Operating income Interest expense Income before takes Income tax expense $135.000 $129,700 45.393 584 305 Profit Umbrella Corp Balance sheet December 31, 2021 Cash Marketable securities Accounts receivable (net) Prepaid insurance Merchandise inventory Plant Assets (net Total Assets $28.500 122.000 52.300 5.000 38.000 143.000 $288.800 Accounts payable Interest payable Common shares Retained earnings Total Liabilities and Equity 58100 2.800 120.200 $388.800 Required Calculate the ratios listed below the financial statements: a. Current ratio b. Accounts receivable turnover. Assume the beginning of year accounts receivable balance was $59,500 c. Days' sales uncollected. d. Merchandise turnover. Assume the beginning of year merchandise inventory was $50,200. e. Times interest earned. f. Return on common shareholders' equity. Assume the beginning of year common shares balance was $180,000 and a retained earnings was $128.000. g. Earnings per share (assume Umbrella Corp's average common shares outstanding are 50,000). h. Price-eamings ratio. Assume the company's shares are selling for $26 per share