Assignment 3: Bearing Analysis By the due end assigned solve the bearing beneath, compute the bearings, expone the fruits counter the activity mean, and gorge in the board on the compositionsheet. Then, provide an analysis of how those fruits can be used by the vocation to ameliorate its exploit. Turn in your completed composition to theSubmissions Area through the end of the day.Balance Sheet as of December 31, 2010Gary and CompanyCash  $45 Accounts payables  $45Receivables    66 Notes payables 45Inventory159 Other present liabilities 21Markeboard securities33 Total present liabilities$111Total present possessions $303   Net unroving possessions  147 Long Term Liabilities Total Assets  $450 Long-term debt  24  Total Liabilities $135      Owners Equity   Common store$114  Retained earnings201  Total storeholders’ equity315   Total liabilities and equity$450 Income Statement Year 2010  Net sales$795Cost of consequence sold 660Gross profit  135Selling expenses  73.5Depreciation12EBIT49.5Interest expense  4.5EBT45Taxes (40%)  18Net income27 1. Compute the aftercited bearings AND expone the fruit counter the activity mean:RatioYour AnswerIndustry AverageYour Interpretation (Good-Fair-Low-Poor)Profit edge on sales 3% Return on possessions 9% Receivable turnover 16X Inventory turnover 10X Unroving asset turnover 2X Total asset turnover 3X Present bearing 2X Quick bearing 1.5X Times profit earned 7X  2. Analysis:Give your exponeation of what the bearings calculations parade and how the vocation can use this instruction to ameliorate its exploit. Justify all answers.