(Calculating financial ratios) The balance sheet and income statement for the J. P. Robard Mfg. Company are as follows: Calculate the following ratios: Current ratio Times interest earned Inventory turnover Total asset turnover Operating profit margin Operating return on assets Debt ratio Average collection period Fixed asset turnover Return on equity The company's current ratio is (Round to two decimal places.) J. P. Robard Mfg., Inc. Balance Sheet (9000) Cash Accounts receivable Inventories Current assets Net fixed assets Total assets $520 1,920 1,050 $3,490 4,500 $7,990 Accounts payable $1,140 Accrued expenses 570 Short-term notes payable 270 Current liabilities $1,980 Long-term debt 2,070 Owners' equity 3,940 Total liabilities and owners' equity $7,990 (Click on the icon in order to copy its contents into a spreadsheet.) J. P. Robard Mfg., Inc. Income Statement ($000) Net sales (all credit) $7,960 Cost of goods sold (3,290) Gross profit $4,670 Operating expenses (includes $500 (2,930) depreciation) Net operating income $1,740 Interest expense (354) Earnings before taxes $1,386 Income taxes (35%) (485) Net income $901 Click on the icon in order to copy its contents into a spreadsheet.)