coll ne lslatements are presented in the table below Based on the information in the table, calculate the firm's fixed asset turnover ratio Round the answers to two decimal places Balance Sheet December 31, 2012 Cash and marketable $198,000 payable $288,000 $65,000 $84,000 $437,000 Accounts p securities Accounts receivable $469.000 Inventories Prepaid expenses $15,700 Notes payable $577,000Accrued expenses Total current $15.700liabilities Total current assets $1.259,700 Long-term debt $237,000 Gross fixed assets $1,954,000 Less: accumulated $476,000 Retained Earnings $1.864,700 Par value and paid: $199,000 in-capital depreciation Net fixed assets Total assets $1.478,000 2,063,700 Common Equity Total liabilities and $2,737,700 52.737,700owner's equity Income Statement, Year of 2012 $7,546,600.00 $6,112,746.00 Net sales (all credit) Less: Cost of goods sold Selling and administrative expenses $349,000.00 $145,000.00 $939,854.00 $49,500.00 $890,354.00 $356,141.60 $534,212.40 Depreciation expense EBIT Interest expense sponse Earnings before taxes Response Income taxes Net income Your