ANSWER ALL PLEASE

From the French Instrument Corporation second-quarter report ended 2014, do a vertical analysis for the second quarter of 2014. (Input all answers as positive values except other (income) which should be indicated by a minus sign. Round your answers to the nearest hundredth percent.)

FRENCH INSTRUMENT CORPORATION AND SUBSIDIARIES Consolidated Statements of Operation (Unaudited) (In thousands of dollars, except share data)
	SECOND QUARTER
	2014		2013		Percent of net
Net sales	$	6,675	$	6,937
Cost of sales		4,087		4,460
Gross margin		2,588		2,477
Expenses:
Selling, general and administrative		1,843		1,781
Product development		173		163
Interest expense		96		121
Other (income), net		(174)		(101)
Total expenses		1,938		1,964
Income before income taxes		650		513
Provision for income taxes		263		207
Net income	$	387	$	306
Net income per common share*	$	0.05	$	0.03
Weighted average number of common
shares and equivalents	6,673,673		6,624,184

*Income per common share reflects the deduction of the preferred stock dividend from net income.

LOGIC COMPANY Comparative Income Statement For Years Ended December 31, 2014 and 2015
	2015		2014
Gross sales	$	19,800	$	15,600
Sales returns and allowances		900		100
Net sales	$	18,900	$	15,500
Cost of merchandise (goods) sold		11,800		8,800
Gross profit	$	7,100	$	6,700
Operating expenses:
Depreciation	$	780	$	640
Selling and administrative		2,800		2,400
Research		630		540
Miscellaneous		440		340
Total operating expenses	$	4,650	$	3,920
Income before interest and taxes	$	2,450	$	2,780
Interest expense		640		540
Income before taxes	$	1,810	$	2,240
Provision for taxes		724		896
Net income	$	1,086	$	1,344

LOGIC COMPANY Comparative Balance Sheet December 31, 2014 and 2015
	2015		2014
Assets
Current assets:
Cash	$	12,300	$	9,400
Accounts receivable		16,900		12,900
Merchandise inventory		8,900		14,400
Prepaid expenses		24,400		10,400
Total current assets	$	62,500	$	47,100
Plant and equipment:
Building (net)	$	14,900	$	11,400
Land		13,900		9,400
Total plant and equipment	$	28,800	$	20,800
Total assets	$	91,300	$	67,900
Liabilities
Current liabilities:
Accounts payable	$	13,400	$	7,400
Salaries payable		7,500		5,400
Total current liabilities	$	20,900	$	12,800
Long-term liabilities:
Mortgage note payable		22,200		20,900
Total liabilities	$	43,100	$	33,700
Stockholders Equity
Common stock	$	21,400	$	21,400
Retained earnings		26,800		12,800
Total stockholders equity	$	48,200	$	34,200
Total liabilities and stockholders equity	$	91,300	$	67,900

Calculate the Acid test ratio. (Round your answers to the nearest hundredth.)

	2015=	2014=
Acid test ratio

LOGIC COMPANY Comparative Income Statement For Years Ended December 31, 2014 and 2015
	2015		2014
Gross sales	$	22,800	$	17,850
Sales returns and allowances		900		100
Net sales	$	21,900	$	17,750
Cost of merchandise (goods) sold		11,050		7,700
Gross profit	$	10,850	$	10,050
Operating expenses:
Depreciation	$	1,080	$	790
Selling and administrative		5,050		3,900
Research		930		690
Miscellaneous		740		490
Total operating expenses	$	7,800	$	5,870
Income before interest and taxes	$	3,050	$	4,180
Interest expense		940		690
Income before taxes	$	2,110	$	3,490
Provision for taxes		844		1,396
Net income	$	1,266	$	2,094

LOGIC COMPANY Comparative Balance Sheet December 31, 2014 and 2015
	2015		2014
Assets
Current assets:
Cash	$	11,800	$	8,600
Accounts receivable		16,100		12,100
Merchandise inventory		8,100		13,600
Prepaid expenses		23,600		9,600
Total current assets	$	59,600	$	43,900
Plant and equipment:
Building (net)	$	14,000	$	10,600
Land		13,100		8,600
Total plant and equipment	$	27,100	$	19,200
Total assets	$	86,700	$	63,100
Liabilities
Current liabilities:
Accounts payable	$	12,600	$	6,600
Salaries payable		6,700		4,600
Total current liabilities	$	19,300	$	11,200
Long-term liabilities:
Mortgage note payable		21,600		20,100
Total liabilities	$	40,900	$	31,300
Stockholders Equity
Common stock	$	20,600	$	20,700
Retained earnings		25,200		11,100
Total stockholders equity	$	45,800	$	31,800
Total liabilities and stockholders equity	$	86,700	$	63,100

Calculate the asset turnover ratio. (Enter your response as a decimal rounded to two places.)

	2015	2014
Asset turnover ratio