The Jimenez Corporation's forecasted 2022 financial statements follow, along with some industry average ratios.

Jimenez Corporation: Forecasted Balance Sheet as of December 31, 2022

Assets
Cash	$ 73,000
Accounts receivable	439,000
Inventories	893,000
Total current assets	$1,405,000
Fixed assets	431,000
Total assets	$1,836,000
Liabilities and Equity
Accounts payable	$ 332,000
Notes payable	100,000
Accruals	170,000
Total current liabilities	$ 602,000
Long-term debt	404,760
Common stock	574,530
Retained earnings	254,710
Total liabilities and equity	$1,836,000

Jimenez Corporation: Forecasted Income Statement for 2022
Sales	$4,290,000
Cost of goods sold	3,703,000
Selling, general, and administrative expenses	401,456
Earnings before taxes (EBT)	$ 185,544
Interest expense	50,000
Earnings before taxes (EBT)	$ 135,544
Taxes (25%)	33,886
Net income	$ 101,658
Jimenez Corporation: Per Share Data for 2022
EPS	$ 4.42
Cash dividends per share	$ 0.95
P/E ratio	4.0
Market price (average)	$17.68
Number of shares outstanding	23,000
Ratio	Industry Averagea
Quick ratio	1.0
Current ratio	2.7
Inventory turnoverb	7.0
Days sales outstandingc	32.0	days
Fixed assets turnoverb	13.0
Total assets turnoverb	2.6
Return on assets	9.1	%
Return on equity	18.2	%
Profit margin on sales	3.5	%
Debt-to-assets ratio	21.0	%
Liabilities-to-assets ratio	50.0	%
P/E ratio	5.0
Market/Book ratio	3.5
Notes:
aIndustry average ratios have been stable for the past 4 years.
bBased on year-end balance sheet figures.
cCalculation is based on a 365-day year.

Calculate Jimenez's 2022 forecasted ratios, compare them with the industry average data, and comment briefly on Jimenez's projected strengths and weaknesses. Assume that there are no changes from the prior period to any of the operating balance sheet accounts. Do not round intermediate calculation. Round your answers to two decimal places.

Ratios	Firm	Industry Average	Comment
Quick ratio		1.0

Current ratio		2.7

Inventory turnover		7.0

Days sales outstanding	days	32 days

Fixed assets turnover		13.0

Total assets turnover		2.6

Return on assets	%	9.1%

Return on equity	%	18.2%

Profit margin on sales	%	3.5%

Debt-to-assets ratio	%	21.0%

Liabilities-to-assets ratio	%	50.0%

P/E ratio		5.0

Market/Book ratio		3.5

So, the firm appears to be

managed.