$7,990 (3,390) $4,600 J. P. Robard Mfg., Inc. Income Statement ($000) Net sales (all credit) Cost of goods sold Gross profit Operating expenses (includes $500 depreciation) Net operating income Interest expense Earnings before taxes Income taxes (40%) Net income (3,060) $1,540 (368) $1,172 (469) $703 (Click on the icon in order to copy its contents into a spreadsheet.) (Calculating financial ratios) The balance sheet and income statement for the J. P. Robard Mfg. Company are as follows: Calculate the following ratios: X Current ratio Times interest earned Inventory turnover Total asset turnover Operating profit margin i Operating return on assets Debt ratio Average collection period Fixed asset turnover Return on equity - Data Table The company's current ratio is (Round to two decimal places.) J. P. Robard Mfg., Inc. Balance Sheet ($000) Cash Accounts receivable Inventories Current assets $490 2,060 1,000 $3,550 4,460 Net fixed assets Total assets $8,010 Accounts payable $1,080 Accrued expenses 600 Short-term notes payable 330 Current liabilities $2,010 Long-term debt 1,930 Owners' equity 4,070 Total liabilities and owners' equity $8,010 (Click on the icon in order to copy its contents into a spreadsheet.) Enter your answer in the answer box and then click Check Answer. 9 parts remaining