Income Statement 2013 Sales 7,035,600 COGS 5,875,992 Other expenses 550,000 EBITDA 609,608 Deprec. & amort 116,960 EBIT 492,648 Interest exp. 70,008 EBT 422,640 Taxes 169,056 Net income 253,584 2012 6,034,000 5,528,000 519,988 (13,988) 116,960 (130,948) 136,012 (266,960) (106,784) (160,176) Balance Sheet: Assets Balance Sheet: Liabilities and Equity 2013 2012 2013 2012 Cash 436,800 85,632 Accts payable 7,282 524,160 Notes payable 300,000 636,808 A/R 878,000 632,160 Accruals 408,000 489,600 Inventories 1.716.480 1.287,360 TotalCL 1,144,800 1,650,568 Total CA 2,680,112 1,926,802 Long-term debt 400,000 723,432 Fixed Assets 817,040 939,790 Common stock 1,721,176 460,000 231, 176 32,592 Total Assets 3,497,152 Retained earnings 2,866,592 Total L & E 3,497,152 2,866,592 What is Precision Tool's 2012 fixed asset turnover rate? What is Precision Tool's 2012 fixed asset turnover rate? 4.10 O 2.10 O 6.42 3.56 O 8.61