Flathead Lake Manufacturing Income Statement 2012 Sales $9,300,000 Cost of Goods Sold 5,750,000 Depreciation Expense 550,000 Gross Profit $3,000,000 Selling and Administrative Expenses 2,200,000 EBIT $ 800,000 Interest Expense 200,000 Income before Tax $ 600,000 Taxes 375,000 Net Income $ 225,000 Flathead Lake Manufacturing Comparative Balance Sheets 2012 2011 Cash $ 50,000 $ 40,000 Accounts Receivable 570,000 600,000 Inventory 530,000 460,000 Total Current Assets $1,150,000 $1,100,000 Fixed Assets 2,050,000 1,400,000 Total Assets $3,200,000 $2,500,000 Accounts Payable Bank Loans Total Current Liabilities Long-term Bonds Total Liabilities Common Stock (200,000 shares) Retained Earnings Total Equity Total Liabilities and Equity $ 320,000 $ 300,000 480,000 400,000 $ 800,000 $ 700,000 1,500,000 1,000,000 $2,300,000 $1,700,000 200,000 200,000 700,000 600,000 $ 900,000 $ 800,000 $3,200,000 $2,500,000 Refer to the attached financial statements of Mathead Lake Manufacturing Company (the exact same file is attached as both a POF and download in one of the two version) EG version for your convenienced you only need to The firm's total asset tumover for 2012 s Give your answer to two decimal places