Section E. Financial Ratios. Use income statement and balance sheet to calculate three financial ratios (9 points each, total 27 points). Use the following income statement and balance sheet to answer the following questions. Income Statement Sales 150,000 Cost of Goods Sold 32,000 Profit Margin 118,000 Salaries and Wages 19,000 Rent Expense 6,000 Licensing Expenses 21,000 Advertising Expense 5,000 Total Expenses 51,000 Net Income 67,000 Balance Sheet Assets Cash 12,000 Inventory 17,000 Property, Plant, and Equipment 246,000 Accounts Receivable 7,000 Total Assets 282,000 Liabilities Accounts Payable 22,000 Long-term Notes Payable 41,000 Total Liabilities 63,000 Owners' Equity Common Stock 124,000 Retained Earnings 95,000 Total Owners' Equity 219,000 Question 1: Calculate the company's current ratio and quick ratio (9 points). Question 2: Calculate the company's return on assets and return on equity (9 points). Question 3: Calculate the company's debt ratio and debt to equity ratio (9 points)