LOGIC COMPANY Comparative Balance Sheet December 31, 2022 and 2023 20232022 Assets Current assets: Cash Accounts receivable Merchandise inventory Prepaid expenses Total current assets Plant and equipment: Building (net) Land Total plant and equipment Total assets \begin{tabular}{rr} $12,300 & $9,300 \\ 16,800 & 12,800 \\ 8,800 & 14,300 \\ 24,300 & 10,300 \\ \hline$62,200 & $46,700 \\ \hline$14,800 & $11,300 \\ 13,800 & 9,300 \\ \hline$28,600 & $20,600 \\ \hline$90,800 & $67,300 \\ \hline \end{tabular} Liabilities Current liabilities: Accounts payable Salaries payable Total current liabilities Long-term liabilities: Mortgage note payable Total liabilities Common stock Retnined earnings Total liabilities and stockholders' equity \begin{tabular}{rr} $47,900 & $33,700 \\ \hline$90,800 & $67,300 \\ \cline { 1 - 3 } \end{tabular} Total stockholders' equity Calculate the asset turnover ratio. Note: Enter your response as a decimal rounded to 2 places