Consider the following companys balance sheet and income statement.

Balance Sheet
Assets		Liabilities and Equity
Cash	$ 16,000	Accounts payable	$ 30,000
Accounts receivable	71,000	Notes payable	24,000
Inventory	52,000
Total current assets	139,000	Total current liabilities	54,000
Fixed assets	80,000	Long-term debt	36,000
		Equity	129,000
Total assets	$ 219,000	Total liabilities and equity	$ 219,000

Income Statement
Sales (all on credit)	$ 270,000
Cost of goods sold	170,000
Gross margin	100,000
Selling and administrative expenses	42,000
Depreciation	6,000
EBIT	52,000
Interest expense	6,000
Earnings before tax	46,000
Taxes	13,800
Net income	$ 32,200

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., 32.16))

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