From the following information, compute the ratios indicated and place the proper numbers in the spaces provided. Assume the average for the year is the same as the ending balances for the balance sheet accounts. Report answer to one decimal place. For example, $2\mathrm{.}34$ is reported as $2\mathrm{.}3.$

Westwood Corporation Balance Sheet, December $31,2008$ Assets

Cash

Marketable securities Accounts receivable $($net$)$ Inventory

Prepaid expenses

Property, plant, and equipment

$15,000$

$10,00020,00030,000$

$8,000117,000$C

$$Total assets

$$200,000$

Liabilities and Stockholders' Equity

Current liabilities

Long$-$term liabilities

Stockholders' equity

Total liabilities and stockholders' equity

$30,000$

$50,000120,000$

$$200,000$ Income Statement For the Year Ended December $31,2008$

Net sales

Less: Cost of goods sold Gross margin

Less: Operating expenses

Selling and administrative expenses Interest expense

Income taxes expense

Net income

$$160,000120,000$ $$40,000$

Current ratio

$16,0008,0004,000$

$28,00$

$$12,00$