Cash Receivables Inventories Total current assets Net fixed assets $ 230,000 1,575,000 1,160,000 $2,965,000 1,320,000 Accounts payable Notes payable Other current liabilities Total current liabilities Long-term debt Common equity Total liabilities and equity $ 600,000 100,000 545,000 $1,245,000 400,000 2,640,000 $4,285,000 Total assets $4,285,000 Lozano Chip Company: Income Statement for Year Ended December 31, 2019 (Thousands of Dollars) Sales $7,500,000 Cost of goods sold 6,375,000 Selling, general, and administrative expenses 929,000 Earnings before interest and taxes (EBIT) $ 196,000 Interest expense 40,000 Earnings before taxes (EBT) $ 156,000 Federal and state income taxes (25%) 39,000 Net income $ 117,000 a. Calculate the indicated ratios for Lozano. Do not round intermediate calculations. Round your answers to two decimal places. Ratio Lozano Industry Average Current assets/Current liabilities 2.38 2.0 Days sales outstanding (365-day year) days 35.0 days COGS/Inventory 6.7 5.50 g 5.68 Sales/Fixed assets 12.1 Sales/Total assets 3.0 Net income/Sales % 1.2%