Question 8. (15 points total) (Calculating financial ratios) Use the balance sheet and income statement for the J. P. Robard Mfg. Company to calculate the following ratios: Current ratio (Round to two decimal places ) Times interest earned (Round to two decimal places.) Inventory turnover (Round to two decimal places.) Total asset turnover (Round to two decimal places ) Operating profit margin (Round to one decimal places.) Operating return on assets (Round to one decimal places,) Debt ratio (Round to one decimal places.) times times Average collection period (Round to one decimal places) days Fixed asset turnover (Round to two decimal places.) Return on equity (Round to one decimal places.) J. P. Robard Mfg., Inc. Balance Sheet ($000) Cash Accounts receivable Inventories $460 1,920 910 3,290 4,480 S7,770 Current assets Net fixed assets Total assets Accounts payable Accrued expenses Shoet-term notes payable $1.170 570 260 $2,000 1,920 3,850 Current Eabilities Long-term debt Owners' equity Total lEablities and owners' equity J. P. Robard Mfg., Inc. Income Statement (S000) Net sales (all credit) Cost of goods sold $7,990 (3,340) 4,650 (3,000) $1,650 (363) $1,287 (515) $772 Gross profit Operating expenses (inchudes $500 depreciation) Net operating income Interest expense Earnings before taxes Income taxes (40%) Net income