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The following are the financial statements of Al-Ikhlas Company for the year 2019 Income statement for the period ended December 31, 2019 2018 2019 sales 8,000,000 9,000,000 Cost of goods sold (3,000,000) (5,000,000) gross profit 5,000,000 4,000,000 Administrative and selling expenses (3,000,000) (3,000,000) Depreciation of fixed assets (300000) (300000) net income before tax and interest 2,700,000 700,000 interest (250,000) (250,000) net profit before taxes 2,450,000 500,000 Tax on profits (20%) (450,000) (100,000) net income after tax 2000,000 400,000 Statement of financial position at December 31, 2019 2018 2019 assets Current assets cash 400,000 Accounts Receivable Investments in short-term securities Inventory Total current assets 750,000 1,000,000 250,000 2,000,000 4,000,000 600,000 200,000 2,500,000 3,700,000 Fixed assets 500,000 1,000,000 (500,000) 1,000,000 5,000,000 1,100,000 2,500,000 (600,000) 3,000,000 6,700,000 buildings Factories Depreciation of fixed assets (accumulated) net fixed assets total assets Liabilities and owner equity Current liability Accounts Payable accrued expenses Total Current liability Non-Current liability bank loans total long-term liabilities Total liability Shareholders' equity Capital (ordinary shares) Capital in excess of principle Retained earnings total shareholder equity 600,000 300,000 9,00,000 750,000 450,000 1,2000,00 1,000,000 1,000,000 1,900,000 1,000,000 1,000,000 2,200,000 1,000,000 1,000,000 2,00,000 2,200,000 3,800,000 1,000,000 700,000 5,500,000 Total liabilities and shareholders' equity 5,000,000 6,700,000 Required: (1) Calculation of operating cash flows and free cash flows. (2) Calculate the return on assets (3) Return on equity (4) Debt Ratio (5) Inventory turnover (6) current ratio and quick ratio (7) Asset turnover rate (8) Average collection period

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