J. P. Robard Mfg., Inc. Balance Sheet ($000) Cash $490 Accounts receivable 2,080 Inventories 1,080 Current assets $3,650 Net fixed assets 4,550 Total assets $8,200 Accounts payable $1,060 Accrued expenses 650 Short-term notes payable 300 Current liabilities $2,010 Long-term debt 1,950 Owners' equity 4,240 Total liabilities and owners' equity $8,200

The balance sheet and income statement for the J. P. Robard Mfg. Company are as follows:

J. P. Robard Mfg., Inc.

Income Statement ($000)

Net sales (all credit) $7,980

Cost of goods sold (3,210)

Gross profit $4,770

Operating expenses (includes $500 depreciation) (2,950)

Net operating income $1,820

Interest expense (365)

Earnings before taxes $1,455

Income taxes (40%) (582)

Net income $873

Current ratio Times interest earned Inventory turnover Total asset turnover Operating profit margin

Operating return on assets Debt ratio Average collection period Fixed asset turnover Return on equity

round two decimal places