Data for Lozano Chip Company and its industry averages follow.

Lozano Chip Company: Balance Sheet as of December 31, 2019 (Thousands of Dollars)
Cash	$ 240,000		Accounts payable	$ 600,000
Receivables	1,575,000		Notes payable	100,000
Inventories	1,130,000		Other current liabilities	525,000
Total current assets	$2,945,000		Total current liabilities	$1,225,000
Net fixed assets	1,325,000		Long-term debt	400,000
			Common equity	2,645,000
Total assets	$4,270,000		Total liabilities and equity	$4,270,000

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	915,000
Earnings before interest and taxes (EBIT)	$ 210,000
Interest expense	40,000
Earnings before taxes (EBT)	$ 170,000
Federal and state income taxes (25%)	42,500
Net income	$ 127,500

1. 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		2.0
   Days sales outstanding (365-day year)	days	35.0	days
   COGS/Inventory		6.7
   Sales/Fixed assets		12.1
   Sales/Total assets		3.0
   Net income/Sales	%	1.2	%
   Net income/Total assets	%	3.6	%
   Net income/Common equity	%	9.0	%
   Total debt/Total assets	%	10.0	%
   Total liabilities/Total assets	%	60.0	%