Presented below are condensed financial statements adapted from those of two actual companies competing in the pharmaceutical industry-Benatar and Jett, Incorporated ($ in millions, except per share amounts). Balance Sheets ($ in millions, except per share data) 1. For both companies, compute the ratios below. (Consider 365 days a year. Do not round intermediate calculations. Round "Asset Turnover" answers to 3 decimal places and other final answers to 2 decimal places.) Assets: Cash Short-term investments Accounts receivable (net) Inventory Other current assets Current assets Property, plant, and equipment (net) Intangibles and other assets Total assets Liabilities and Shareholders' Equity: Accounts payable Short-term notes Other current liabilities Current liabilities Long-term debt Other long-term liabilities Total liabilities Benatar Jett Benatar Jett $ 17,380 $ 1,485 Receivables Turnover times 2,027 8,540 times 15,081 8,739 9,620 8,313 Average Collection Period days days 2,546 6,566 46,654 33,643 Inventory Turnover times times 17,688 14,012 95,396 120,809 $ 159,738 $ 168,464 Average Days in Inventory Profit Margin days days % % $ 8,634 1,247 26,248 $ 4,295 16,270 16,979 Asset Turnover times times Return on Assets 36,129 37,544 % % 26,584 36,030 35,889 32,283 Equity Multiplier 98,602 105,857 Return on Equity % % 3,795 87,956 97,745 11,715 Common stock (par and additional paid-in capital) Retained earnings Accumulated other comprehensive income (loss) Less: Treasury stock and other equity adjustments Total shareholders' equity 112,294 (16,491) (38,462). 61,136 (111,379) 62,607 $ 168,464 Show Image Transcript Total liabilities and shareholders' equity $ 159,738 Income Statements Gross profit Operating expenses Net sales Cost of goods sold Other (income) expense-net Income before taxes $ 84,009 53,700 27,616 10,369 56,393 43,331 34,725 20,331 Here's the best solution from Chegg's library. (2,600) 3,728 19,068 19,272 Income tax expense 2,299 1,414 Net income Basic net income per share $ 16,769 $ 17,858* $ 5.87 $ 3.07 Any follow-up questions *This is before income from discontinued operations. Evaluate and compare the two companies by responding to the following questions.