Headland Inc. manufactures a variety of consumer products. The company's founders have run the company for 30 years and are now interested in retiring. Consequently, they are seeking a purchaser who will continue its operations, and a group of investors, Morgan Inc., is looking into the acquisition of Headland. To evaluate its financial stability and operating efficiency, Headland was requested to provide the latest financial statements and selected financial ratios. Summary information provided by Headland is as follows. \begin{tabular}{l} Income taxes \\ Net income $4,116 \\ \hline \hline \end{tabular} Headland Inc. Balance Sheet As of November 30 (in thousands) $5002026$6002025 Short-term investments (at cost) 400 Accounts receivable (net) Inventory Total current assets 10,3006,1009,4005,500 Property, plant, \& equipment (net) Total assets Accounts payable Income taxes payable Accrued expenses Totalcurrent liabilities 6,6001,8005,9001,500 Total current liabilities Selected Financial Ratios \begin{tabular}{lccc} & \multicolumn{2}{c}{ Headland Inc. } & CurrentIndustryAverage \\ \cline { 2 - 3 } & 2025 & 2024 & 1.73 \\ Current ratio & 1.59 & 1.60 & 0.83 \\ Acid-test ratio & 0.66 & 0.6 & 8.55 \\ Times interest earned & 8.65 & 8.6 & 13.1% \\ Profit margin on sales & 13.3% & 12.2% & 1.94 \\ Asset turnover & 1.94 & 1.93 & 3.28 \\ Inventorviturnover & 3.27 & 3.31 & \end{tabular} (a) Calculate a new set of ratios for the fiscal year 2026 for Headland based on the financial statements presented. (Round answers to 2 decimal places, e.g. 52.75 or 52.75% )