This question will be sent to your instructor for grading. 170 The Income statement and balance sheet for HOYT, Inc. are provided below. (Note that the reported figures are expressed in thousands of dollars). HOYT, INC Balance Sheets as of December 31, 2018 and 2019 in 000s) 2018 2019 2018 2019 Assets Liabilities and Owners' Equity Current assets Current liabilities Cash $ 100 $ 115 Accounts payable $ 75 $ 165 Accounts receivable 170 Notes payable 100 120 Inventory 120 150 Total $ 390 $ 435 Total $175 $ 285 Long-term debt $250 $ 290 Owners' equity Common stock $ 190 $ 113 Fixed assets Accumulated retained 275 347 earnings Net plant and equipment $ 500 $ 600 Total Equity $ 465 $ 460 Total assets $ 890 $ 1035 Total Habilities and owners $ 890 $ 1035 equity HOYT, INC 2019 Income Statement (in 000s) Sales Cost of goods sold 900 500 $ 900 (in 000s) Sales Cost of goods sold Depreciation 500 18 EBIT Interest paid 382 18 Taxable income Taxes 364 76 Net Income 288 $ Dividends Retained earnings 216 72 Requirement #1: Calculate each of the following ratios for HOYT, Inc. for 2019 only and complete the table below. (Do not round Intermediate calculations. Round your answers to 4 decimal places (e.g., 0.9173 or 2.1648). Input profit margin, return on assets, and return on equity as percentages (e.g., if the Profit Margin-0.1576, input your answer as 15.76). 2019 Industry Average a. Current ratio times 2.1004 b. Quick ratio times 1.3652 c. Total asset turnover times 0.8493 d. Inventory turnover times 2.7699 e. Total debt ratio times 0.6491 f. Equity Multiplier 2.8497 9. Times interest earned ratio times 31.1176 h. Profit margin 27.55% i. Return on assets 23.40% Return on equity 66.68% h. Pront margin i. Return on assets J. Return on equity 27.55% 23.40% 66.68% Requirement #2: Use the ratios you calculated in Requirement #1 and the industry averages given in the table above to determine if HOYT, Inc. is "above average" or "below average in each of the following areas of financial performance. Operating Efficiency (Click to select) Liquidity (Click to select) Shareholder Return Click to select) Financial Leverage Click to select) Asset Use Efficiency (Click to select) Requirement #3: Based on DuPont analysis, how would you explain the difference in the return on equity (ROE) for HOYT, Inc. vs. the industry as a whole in 2019 fi.e., why is the ROE for HOYT higher/lower than the ROE for the average firm in the industry