Please provide a written out by hand solution for the above example.

Based on the financial statements of Brown Company, calculate the following ratio for 2014. a. The following ratios: returm on asset, quick ratio; working capital turnover; payable collection period; b. Using the DuPont method, calculate the components that contribute to Brown's return on equity for 2013 and 2014. State the reasons for the observed change in Brown's ROE from 2013 to 2014. Inc ame Satem ent Tear Ending December 31 Balance Sheet as of December 31 Sin Thousands Sin Thousands 2013 $ 12000 $ 19000 2014 2013 2014 Assets Sales $ 2000 $ 2,200 3,000 Cost of good sold 7,200 12000 Cash Accants receiva ble Deprec iation ex pense 1.200 1500 3,500 Selling & Genera! Adminstrative expe nse 700 1000 Inventory 4000 $ 9.000 $ 22,000 (9000) 4,200 Current a ssets 1300 1200 1600 $ 3300 9,900 24,300 terest expense Income before taxes Fired assets at cost Accumula ted deprec iation Inc ame tax expense 1440 900 $ 1860 700 (10.500) Net Income Net fred assets 13.000 13.800 $ 22,000 $ 23,700 Total assets Linbtiries and Eguip Accrued expenses Accounts payable $ 1.00 $ 1,760 2400 $ 4,000 $ 15,000 2.640 4,400 Current liabilites Long-tem debt 15,004 Common stock 2000 1000 $ 22,000 $ 23,700 2,300 Retained earming Total la bilitie s and equity 1,996 %24