Data for Lozano Chip Company and its industry averages follows (answers questions and show work): I was provided with the answers to the question and need the supporting work and formulas. Show work and formulas.

Balance Sheet in Thousands of dollars

cash                         $225,000                               Accounts Payable                 $601,866

receivables               1,575,000                             Notes payable                       326, 634

inventories                1,125,000                             other current liabilituies          525,000

total current assets 2,950,000                               total current liabilities           1,453,500

net fixed assets        1,350,000                              long term debt                       1,068,750

                                                                                common equity                    1,752,750

Total Assets              4,275,000                                total liabilities and equity    4,275,000

Income Statement in Thousands of Dollars

Sales                                                                      7,500,000

Costs of goods sold                                                6,375,000

selling general and admin expen                            825,000

Earnings before taxes (EBT)                                   188,369

Federal and State Taxes    (40%)                             75,348

Net Income                                                                 113,022

a. calculate the indicated ratios for Lorzano---answers are: current ratio = 2.01, DSO = 77 days, INV TO = 5.67, FA turnover = 5.56, TA turnover = 1.75, PM = 1.5%, ROA = 2.6%, ROE = 6.4%, debt ratio = 33%, L/TA = 59%

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