whats the ratio?

average days collection ratio?

Asset turnover ratio?

LOGIC COMPANY Comparative Income Statement For Years Ended December 31, 2016 and 2017 2017 1,000 12,000 2016 Gross sales Sales returns and allowances Net sales Cost of merchandise (goods) sold Gross proft Operating expenses $19,000 $15,000 100 $18,000 $14,900 9,000 $ 6,000 $ 5,900 Depreciation $ 700$ 600 2,000 500 300 $ 3,810 3,400 $ 2,190 2,500 500 $1,630 2,000 800 $ 990 1,200 2,200 550 360 Selling and administrative Research Miscellaneous Total operating expenses Income before interest and taxes Interest expense Income before taxes Provision for taxes Net income 560 640 LOGIC COMPANY Comparative Balance Sheet December 31, 2016 and 2017 2017 2016 Assets Current assets Cash Accounts receivable Merchandise inventory Prepaid expenses $ 12,000 $ 9,000 16,500 12,500 14,000 24.000 10,000 $ 61,000 $ 45,500 8,500 Total current assets Plant and equipment: Building (net) Land $ 14,500 $ 11,000 9,000 $ 28,000 $ 20,000 $ 89,000 $ 65,500 13,500 Total plant and equipment Total assets Liabilities Current liabilities Accounts payable Salaries payable $ 13,000 $ 7,000 5,000 $ 20,000 $12,000 7,000 Total current liabilities Long-term liabilities Mortgage note payable 22,000 20.500 $ 42,000 $ 32,500 Total liabilities Stockholders' Equity Common stock Retained earnings $ 21,000 $ 21,000 12,000 $ 47,000 $ 33,000 $ 89,000 $ 65,500 26,000 Total stockholders' equity Total liabilities and stockholders' equity Calculate the current ratio. (Round your answers to the nearest hundredth.) 2016 2017 Current ratio