J. P. Robard Mfg., Inc. Balance Sheet ($000)
Cash	$470
Accounts receivable	1,910
Inventories	1,020
Current assets	$3,400
Net fixed assets	4,490
Total assets	$7,890
Accounts payable	$1,140
Accrued expenses	640
Short-term notes payable	290
Current liabilities	$2,070
Long-term debt	1,930
Owners' equity	3,890
Total liabilities and owners' equity	$7,890

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J. P. Robard Mfg., Inc. Income Statement ($000)
Net sales (all credit)	$8,060
Cost of goods sold	(3,390)
Gross profit	$4,670
Operating expenses (includes $500 depreciation)	(3,080)
Net operating income	$1,590
Interest expense	(356)
Earnings before taxes	$1,234
Income taxes (40%)	(494)
Net income	$740

(Calculating financial ratios)The balance sheet and income statement for the J. P. Robard Mfg. Company are as follows:

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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

Question content area bottom

Part 1

The company's current ratio is______

enter your response here.

(Round to two decimal places.)