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The balance sheet and income statement for the J. P. Robard Mfg. Company are as follows: J. P. Robard Mfg., Inc. Balance Sheet ($000) Cash

The balance sheet and income statement for the J. P. Robard Mfg. Company are as follows:

J. P. Robard Mfg., Inc.

Balance Sheet ($000)

Cash

$460

Accounts receivable

1,950

Inventories

950

Current assets

$3,360

Net fixed assets

4,550

Total assets

$7,910

Accounts payable

$1,120

Accrued expenses

600

Short-term notes payable

270

Current liabilities

$1,990

Long-term debt

2,010

Owners' equity

3,910

Total liabilities and owners' equity

$7,910

J. P. Robard Mfg., Inc.

Income Statement ($000)

Net sales (all credit)

$7,980

Cost of goods sold

(3,250)

Gross profit

$4,730

Operating expenses (includes $500 depreciation)

(2,910)

Net operating income

$1,820

Interest expense

(370)

Earnings before taxes

$1,450

Income taxes

(40%)

(580)

Net income

$870

. 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 times interest earned is

enter your response here

times. (Round to two decimal places.)

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