Hyrkas Corporation's most recent balance sheet and income statement appear below: Statement of Financial Position December 31, Year 2 and Year 1 (in thousands of dollars) Year 2 Year 1 Asset: Current assets: Cash Accounts receivable Inventory Prepaid expenses $ 150 $ 160 260 270 160 150 20 20 Total current assets Plant and equipment, net 590 975 600 955 Total assets $1,565 $1,555 Liabilities and stockholders' equity: Current liabilities: Accounts payable Accrued liabilities Notes payable, short term $ 210 $ 200 100 100 150 160 Total current liabilities Bonds payable 460 240 460 290 Total liabilities 700 750 Stockholders' equity Common stock, $1 par value Additional paid-in capital--common stock Retained earnings 100 110 655 100 110 570 Total stockholders' equity 865 780 Total liabilities and stockholders' equity $1,565 $1,530 Income Statement For the Year Ended December 31, Year 2 (in thousands of dollars) Sales (all on account) $1,380 Cost of goods sold 855 Gross margin Selling and administrative expenses 525 232 Net operating income Interest expense 293 36 257 Net income before taxes Income taxes (30%) 77 Net income $ 180 Dividends on common stock during Year 2 totaled $70 thousand. The market price of common stock at the end of Year 2 was $9.41 per share. Required: a. Compute the gross margin percentage for Year 2. (Round your answer to one decimal place. e.g. 0.1234 = 12.3%.) Gross margin percentage j. Compute the current ratio for Year 2. (Round your answer to 2 decimal places.) Current ratio k. Compute the acid-test ratio for Year 2. (Round your answer to one decimal place.) Acid-test ratio 1. Compute the accounts receivable turnover for Year 2. (Round your answer to 2 decimal places.) Accounts receivable turnover m. Compute the average collection period for Year 2. (Use 365 days in a year. Do not round intermediate calculations. Round your answer to one decimal place.) Average collection period Days n. Compute the inventory turnover for Year 2. (Round your answer to 2 decimal places.) Inventory turnover o. Compute the average sale period for Year 2. (Use 365 days in a year. Do not round intermediate calculations. Round your answer to one decimal place.) Average sale period Days p. Compute the times interest earned for Year 2. (Round your answer to 2 decimal places.) Times interest earned 9. Compute the debt-to-equity ratio for Year 2. (Round your answer to 2 decimal places. e.g. 0.1234 = 0.12) Debt-to-equity ratio