The following information is an extract from Carson Electronics financial statements for the 2018 2019 financial year:

Inventory $1,500,000

Net receivables $4,550,000

Net credit sales $8,000,000

Current assets $8,830,000

Non-current assets $1,650,000

Account payable $2,450,000

Bank Bill (Short term) $430,500

Long Term debt $255,500

Ordinary equity $7,840,000

Net operating income $505,300

Cost of goods sold $255,000

Interest expense $ 75,000

Tax rate 30%

Ratios	Industry Benchmark (Average)
Current ratio	2:1
Receivable turnover	5 times
Average age of receivables	90 days
Inventory Turnover	2.2 times
Debt to-equity ratio	.33
Net working capital	Positive
Return on assets	10%
Return on equity	9.05%

Required:

Calculate the following ratios and compare your results with industry benchmark stated above:

1. Current ratio: Current assets/Current liabilities
2. Receivable turnover: Total Credit Sales / Average Accounts Receivable
3. Average age of receivables: (Accounts Receivable * 365) / Sales Revenue
4. Inventory Turnover: Sales / Inventory
5. Debt to-equity ratio: Total Debts / Total Equity
6. Net working capital: Current Assets Current Liability
7. Return on assets: Net Income / Average Total Assets
8. Return on equity: Net Income / Average Shareholders Equity

[Answer and show workings in the below template]

Use the following template to answer your calculation, compare the result with Industry average and Interpretation of your result.

Ratio formula (with calculation)	Compare with Industry Average	Interpretation