Financial statements for Askew Industries for 2024 are shown below (in thousands):2024 Income StatementNet sales$ 8,600Cost of goods sold(6,050)Gross profit2,550Operating expenses(1,850)Interest expense(100)Income tax expense(240)Net income$ 360Comparative Balance Sheets December 3120242023Assets Cash$ 500$ 400Accounts receivable500300Inventory700500Property, plant, and equipment (net)1,0001,100 $ 2,700$ 2,300Liabilities and Shareholders Equity Current liabilities$ 500$ 250Bonds payable900900Common stock500500Retained earnings800650 $ 2,700$ 2,300Required:Calculate the following ratios for 2024.Note: Consider 365 days a year. Round your intermediate calculations and final answers to 2 decimal places.