P4-25 (similar to) Question Help (Calculating financial ratios) The balance sheet and income statement for the 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.) J. P. Robard Mfg., Inc. Balance Sheet($000) Cash Accounts receivable Inventories $530 2,000 1,100 $3,630 4,440 Current assets Net fixed assets Total assets $8,070 Accounts payable Accrued expenses Short-term notes payable Current liabilities Long-term debt Owners' equity Total liabilities and owners' equity $1,090 550 290 $1,930 1,950 4,190 $8,070 1. I E Inc. 5000) $7,940 (3,310) $4,630 (2,910) Net sales (all credit) Cost of goods sold Gross profit Operating expenses (includes $500 depreciation) Net operating income Interest expense Earnings before taxes Income taxes (40%) $1,720 (368) $1,352 (541) $811 Net income