a. Current ratio b. Operating return on assets c. Times interest earned d. Debt ratio e. Inventory turnover f. Average collection period g. Total asset turnover h. Fixed asset turnover 1. Operating profit margin j. Return on equity a. The current ratio is X. (Round to two decimal places.) Balance Sheet ($000) Cash Accounts receivable Inventories Current assets Net fixed assets Total assets $ 485 2,015 1,011 $ 3,511 4,485 $ 7,996 Accounts payable Accrued expenses Short-term notes payable Current liabilities Long-term debt Owners' equity Total liabilities and owners' equity $ 1,116 608 292 $ 2,016 2,003 3,977 $ 7,996 Income Statement ($000) Sales (all credit) Cost of goods sold Gross profit Operating expenses (includes $507 depreciation) Operating profits Interest expense Earnings before taxes Income taxes (21%) Net income $ 8,010 (3,322) $ 4,688 (2,988) $ 1,700 (371) $ 1,329 (279) $ 1,050