Industries using the information that follows it. CHAPTER 3 Financial Statements and Ratio Analysis 93 The following financial data for 2012 are also available: 1. Sales totaled $1,800,000. 2. The gross profit margin was 25%. 3. Inventory turnover was 6.0 . 4. There are 365 days in the year. 5. The average collection period was 40 days. 6. The current ratio was 1.60 . 7. The total asset turnover ratio was 1.20. 8. The debt ratio was 60%