J.P. Robard Mfg., Inc. Balance Sheet (5000) Cash Accounts receivable Inventories Current assets Net fixed assets Total assets $460 1,950 1,090 $3,500 4,460 $7,960 260 Accounts payable $1,100 Accrued expenses 560 Short-term notes payable Current liabilities $1,920 Long-term debt 1,990 Owners' equity 4,050 Total liabilities and owners' equity $7,960 (Click on the icone in order to copy its contents into a spreadsheet.) J. P. Robard Mfg., Inc. Income Statement ($000) Net sales (all credit) $7,990 Cost of goods sold (3,220) Gross profit $4,770 Operating expenses (includes $500 (2,910) depreciation) Net operating income $1,860 Interest expense (362) Earnings before taxes $1,498 Income taxes (40%) (599) Net income $899 (Calculating financial ratios) The balance sheet and income statement for J.P. Robard Mfg. Company are as follows: Calculate the following ratios: 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 ... The company's current ratio is (Round to two decimal places.)