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

LOADING...

. 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

enter your response here.

(Round to two decimal places.) Help me solve thisView an example

Get more help

Clear all

Check answer

Data table

Dialog content starts

J. P. Robard Mfg., Inc. Balance Sheet ($000)
Cash	$450
Accounts receivable	1,970
Inventories	950
Current assets	$3,370
Net fixed assets	4,540
Total assets	$7,910
Accounts payable	$1,100
Accrued expenses	560
Short-term notes payable	310
Current liabilities	$1,970
Long-term debt	1,930
Owners' equity	4,010
Total liabilities and owners' equity	$7,910

(Click

on the icon

in order to copy its contents into a

spreadsheet.)

J. P. Robard Mfg., Inc. Income Statement ($000)
Net sales (all credit)	$7,960
Cost of goods sold	(3,250)
Gross profit	$4,710
Operating expenses (includes $500 depreciation)	(2,990)
Net operating income	$1,720
Interest expense	(361)
Earnings before taxes	$1,359
Income taxes (40%)	(544)
Net income	$815