11. This chapter illustrated the calculation of financial ratios using the financial statements of cos, a manufacturer and markerer of clothing. Tinker's Trousers also manufactures clothing. Given selected financial data for Tinker's Trousers, calculate the following financial ratios: aLiquidity ratios: the current ratio and quick ratio b) Activity ratios: inventory turnover, receivables turnover, days sales outstanding (ACP), fixed asset turnover, and total asset turnover Profitability ratios: operating profit margin, niet profit margin, return on assets, and return on equity d Leverage ratios: debt/equity ratio, debt ratio total debt/assets) e Coverage ratios: times-interest-earned Compare the numerical results with the values for ratios calculated for CCS in the body of this chapter. Are there any obvious differences: Balance Sheet (as of December 31, 20X1) Current assets Cash and cash equivalents $1,330 Receivables 994 Inventories 1.329 Other current assets 229 Total current assets 3,882 Plant and equipment 2.484 Other noncurrent assets 5.717 Total assets $11.983 Current liabilities Long-term liabilities Equity Total liabilities plus equity (Prior year's inventory: $1,452) $2,648 6,411 2,811 $11.983 Income Statement for the fiscal year ending December 31, 20X1) Sales $11,649 Gross profit 7,650 Operating income 1,460 Interest expense 294 Taxes 243 Net Income 5923