(Calculating financial ratios) The balance sheet and income statement for the J. P. Robard Mfg. Company are as follows: B. 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 DOBO The company's current ratio is ( (Round to two decimal places.) Data Table Cash Accounts receivable Inventories Current assets Net fixed assets Total assets $540 1.980 940 $3,460 4,530 $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.) Help Me Solve This View an Example Get M J. P. Robard Mfg., Inc. Income Statement ($000) Net sales (all credit) Cost of goods sold Gross profit Operating expenses (includes $500 $7.900 (3,260) $4,640 Clear Ini (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