URGENT ANSWER REQUIRED

Below you will find a Balance Sheet and Income Statement for Underground Airways Inc. Underground Airways Inc. Balance Sheet As at December 31, 20X5 ASSETS Cash Accounts receivable Inventory New plant and equipment Total Assets $40,000 60,000 90,000 220.000 $410,000 LIABILITIES AND SHAREHOLDERS' EQUITY Accounts payable Accrued expenses Long-term debt Common stock Retained earnings Total Liabilities and Shareholders Equity $60.000 40,000 130,000 80,000 100,000 $410,000 Underground Airways Inc. Income Statement For the year ended December 31, 20X5 Sales (all on credit) Cost of goods sold Gross profit Selling and administrative expense Pperating profit Interest expense Net income before taxes Taxes (50%) Net income $700,000 400,000 300,000 100,000 200,000 40,000 160,000 80,000 80,000 Required: Use Underground's financial statements to calculate the ratios listed below. Instructions: Clearly label the ratio. Show all calculations for full marks. If you only provide the final answer, you will receive partial marks even if it is correct. 3 marks per answer. 1. Average collection period. (Use 365 days in a year.) 2. Times interest earned. 3. Quick ratio 4. Current ratio 5. Debt to asset ratio. 6. After tax profit margin (net profit margin). 7. Return on equity