Consider the following company$$s balance sheet and income statement.

Balance Sheet

Assets Liabilities and Equity

Cash $ $16,000$ Accounts payable $ $37,000$

Accounts receivable $78,000$ Notes payable $31,000$

Inventory $59,000$

Total current assets $153,000$ Total current liabilities $68,000$

Fixed assets $87,000$ Long$-$term debt $51,000$

Equity $121,000$

Total assets $ $240,000$ Total liabilities and equity $ $240,000$

Income Statement

Sales $($all on credit$)$ $ $300,000$

Cost of goods sold $210,000$

Gross margin $90,000$

Selling and administrative expenses $22,000$

Depreciation $6,000$

EBIT $62,000$

Interest expense $6,700$

Earnings before tax $55,300$

Taxes $16,590$

Net income $ $38,710$

For this company, calculate the following: $($Use $365$ days in a year. Do not round intermediate calculations. Round your answers to $2$ decimal places. $($e$.$g$.,32\mathrm{.}16))$