(Calculating financial ratios) The balance sheet and income statement for the J. P. Robard Mfg. Company are as follows: Calculate the following ratios: Data Table 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 ..... J. P. Robard Mfg., Inc. Balance Sheet ($000) The company's current ratio is 1.74. (Round to two decimal places.) $540 Cash Accounts receivable The company's times interest earned is times. (Round to two decimal places.) 1,980 940 Inventories Current assets $3,460 4,530 Net fixed assets Total assets $7,990 Accounts payable $1,010 Accrued expenses 640 Short-term notes payable 340 Current liabilities $1,990 Long-term debt 1,910 Owners' equity 4,090 Total liabilities and owners' equity $7,990 (Click on the icon in order to copy its contents into a spreadsheet.) $7,900 (3,260) $4,640 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%) (2,990) $1,650 (355) $1,295 (518) Net income $777