LOGIC COMPANY Comparative Income Statement For Years Ended December 31, 2016 and 2017
	2017		2016
Gross sales	$	19,400	$	15,300
Sales returns and allowances		800		100
Net sales	$	18,600	$	15,200
Cost of merchandise (goods) sold		11,900		8,900
Gross profit	$	6,700	$	6,300
Operating expenses:
Depreciation	$	740	$	620
Selling and administrative		2,500		2,200
Research		590		520
Miscellaneous		400		320
Total operating expenses	$	4,230	$	3,660
Income before interest and taxes	$	2,470	$	2,640
Interest expense		600		520
Income before taxes	$	1,870	$	2,120
Provision for taxes		748		848
Net income	$	1,122	$	1,272

LOGIC COMPANY Comparative Balance Sheet December 31, 2016 and 2017
	2017		2016
Assets
Current assets:
Cash	$	12,100	$	9,300
Accounts receivable		16,700		12,700
Merchandise inventory		8,700		14,200
Prepaid expenses		24,200		10,200
Total current assets	$	61,700	$	46,400
Plant and equipment:
Building (net)	$	14,600	$	11,200
Land		13,700		9,200
Total plant and equipment	$	28,300	$	20,400
Total assets	$	90,000	$	66,800
Liabilities
Current liabilities:
Accounts payable	$	13,200	$	7,200
Salaries payable		7,200		5,200
Total current liabilities	$	20,400	$	12,400
Long-term liabilities:
Mortgage note payable		22,400		20,700
Total liabilities	$	42,800	$	33,100
Stockholders Equity
Common stock	$	21,100	$	21,100
Retained earnings		26,100		12,600
Total stockholders equity	$	47,200	$	33,700
Total liabilities and stockholders equity	$	90,000	$	66,800

Calculate the asset turnover ratio. (Enter your response as a decimal rounded to 2 places.)

	2017	2016
Asset turnover ratio