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Use the following financial statements of Heifer Sports Inc. in Table 14.14 to find Heifers: PLEASE SHHOW WORK

a. Inventory turnover ratio in 2015.

b. Debt/equity ratio in 2015.

c. Average collection period.

d. Asset turnover ratio.

e. Interest coverage ratio.

f. Operating profit margin.

g. Return on equity.

h. Cash ratio.

i. Current ratio.

j. Use the DuPont equation to decompose ROE.

Income statement	2016
Sales	$5,500,000
Coast of goods sold	2,850,000
Depreciation	280,000
Selling & admin expenses	1,500,000
EBT	870,000
Interest expense	130,000
Taxable income	740,000
Taxes	330,000
Net income	410,000

Balance sheet year end	2015	2014
assets
cash	50,000	40,00
Accounts receivable	660,000	690,000
inventory	490,000	480,000
Total current assets	1,200,000	1,210,000
Fixed assets	3,100,000	2,800,000
Total assets	4,300,000	4,010,000
Liability and shareholder equity
Accounts payable	340,000	450,000
Short term debt	480,000	550,000
Total current liabilities	820,000	1,000,000
Long term bonds	2,520,000	2,200,000
Total liabilities	3,340,000	3,200,000
Common stock	310,000	310,000
Retained earnings	650,000	650,000
Total shareholder equity	960,000	810,000
Total liabilities and share holder equity	4,300,000	4,010,000

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