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Little Deer Industries gathered the following year-end data (in thousands) for 2010 and 2009: 2010 2009 Current Assets $525 $465 Long-Term Assets 885 585 Current

Little Deer Industries gathered the following year-end data (in thousands) for 2010 and 2009:

2010

2009

Current Assets

$525

$465

Long-Term Assets

885

585

Current Liabilities

385

385

Long-Term Liabilities

575

575

Owners' Equity

575

265

Net Sales

975

775

Gross Margin

485

365

Net Income

255

100

a) What was the asset turnover ratio for 2010?

b) What was the current ratio at the end of 2010?

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